Binance Says Withdrawals Have Normalized After $6.3 Billion…
By Abdelaziz Fathi
AI summary of the source article
Binance co-CEO Richard Teng said customer withdrawals have largely normalized following a $6.3 billion cryptocurrency theft on October 29. The exchange replenished about 95% of affected assets as cumulative net outflows reached approximately $5.28 billion.
Why it matters
Slowing withdrawals ease immediate liquidity pressure, but cumulative outflows and remaining service restrictions leave Binance's recovery incomplete.
Key facts
- Binance suffered a $6.3 billion theft on October 29, which the FBI attributed to North Korea's TraderTraitor group.
- Cumulative net outflows reached approximately $5.28 billion between November 1 and November 3, representing about 3.1% of assets on the exchange.
- Binance replenished around 95% of affected assets using corporate resources and its Secure Asset Fund for Users (SAFU).
Source excerpt · FinanceFeeds
Binance co-CEO Richard Teng said customer withdrawals have largely returned to normal following the exchange's $6.3 billion cryptocurrency theft, as North Korea rejected allegations from the FBI that its state-backed hackers carried out the attack. The exchange has replenished approximately 95% of the affected assets, although cumulative net outflows reached $5.28 billion by early Tuesday. Speakin…