Binance witnessed a massive increase in outflows, with customers withdrawing $3.6 billion from the world's largest cryptocurrency exchange after the largest theft in its history, which has been linked to North Korea.

According to media reports, customers withdrew $3.6 billion of assets from Binance as it reopened on Sunday following the theft of $6.3 billion on Thursday.

"Binance began restoring withdrawals in phases at 06:00 UTC on November 1, 2026," the company posted on X on Sunday, three days after it froze assets in the wake of the theft.

"By 12:36 UTC, withdrawals had resumed for all 15 networks and assets in the initial phase. After an initial spike, withdrawal volumes have declined and are stabilising as expected, while deposit volumes have remained substantial," it said.

According to Binance, customers deposited $1.01 billion and withdrew about $4.649 billion in assets. Most of those transactions occurred in the first few hours after trading was restored, it added.

The outflow of $3.64 billion represents 2.1% of $171 billion in total assets under its management, the company said on Sunday.

"Our team continues testing rigorously the remaining networks and assets. We know how important safe and reliable access to your funds is and will share details of the next phase as soon as we can. Rest assured that market conditions are stable,” Binance said in a post on X.

The company said that it would cover all losses that occurred during the hack and that it had worked with other cryptocurrency firms to freeze about USD 3 billion in stolen assets, according to a The New York Times report.

Source link