Traders have pulled billions from Binance since late last week, when the crypto exchange giant suffered the largest cyber theft in history. Net withdrawals from the platform reached $4.7 billion by Monday morning in London, according to a Binance spokesperson. While sizeable, the outflows still represents less than 4% of the $128 billion in assets held on the world’s largest crypto venue.
Binance restored customer withdrawals on Sunday after freezing them in the wake of the $6.4 billion exploit, which the Federal Bureau of Investigation has attributed to North Korean hackers. After the hack was first detected on Thursday evening, Binance worked with industry partners, including stablecoin issuers, to swiftly freeze almost half the stolen funds. The company vowed to cover the losses in full, and as of Sunday, had patched about 95% the total.
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