Binance Resumes Withdrawals After $6.3 Billion Hack, Records $3.6 Billion Net Outflow

Binance resumed customer withdrawals in phases on 1 November 2026 after a 29 October theft of roughly $6.3 billion from its hot wallets, the largest cryptocurrency heist on record. The exchange said it has covered about 95 percent of the stolen assets with company reserves and continues to purchase the remaining less-liquid tokens.

Between 06:00 and 15:30 UTC on 1 November, Binance processed $4.649 billion in withdrawals and $1.01 billion in deposits. The resulting net outflow of approximately $3.64 billion equalled 2.1 percent of the firm’s roughly $171 billion in assets under management, according to its most recent proof-of-reserves data. Volumes spiked early and then declined toward more normal levels.

Phase one restored withdrawals for Bitcoin, Ethereum, BNB, Solana, Tether, USD Coin, XRP and several other assets on their respective networks. Deposits had remained open throughout. The company stated that all major listed assets are fully backed and that it set aside more than $6.34 billion in corporate funds to cover user losses.

The FBI attributed the theft to TraderTraitor, a North Korean state-linked group also blamed for the 2025 Bybit heist of about $1.5 billion. Blockchain analysis firms including TRM Labs, Chainalysis and Elliptic reached the same conclusion with high confidence. Binance has not publicly named a perpetrator. An initial company statement pointed to the compromise of one engineer’s laptop that allowed unauthorized transaction submissions.

Major cryptocurrency prices showed little change after the resumption. Bitcoin traded near $77,700, about 5 percent below its pre-attack level. The exchange said it will publish a fuller incident report once the investigation concludes. The measured outflow suggests most users retained balances despite the scale of the theft and the multi-day freeze.