Binance Says Withdrawals Have Stabilized After Spike, Following $6.3 Billion Crypto Heist
The exchange says it raised $6 billion from its corporate treasury, an insurance fund, and a fund set aside for security breaches to cover the losses.
TL;DR
- Binance saw $3.64 billion withdrawn over nine hours on November 1st.
- This followed a $6.3 billion heist on October 29th.
- The FBI attributes the heist to a North Korean actor named "TraderTraitor".
- Binance reported that withdrawal volumes have stabilized after an initial spike.
- Deposit volumes have remained substantial.
- The exchange's priority is to ensure security before resuming full operations.