Binance sees $4.65 billion withdrawn, $3 billion in stolen assets frozen after hack

Binance recorded $4.65 billion in customer withdrawals and $1.01 billion in deposits within a nine-and-a-half-hour period on November 1. This activity followed a major breach that had occurred days earlier, which saw hackers reportedly steal $6.3 billion from the platform. The net outflow of approximately $3.64 billion amounted to 2.1% of Binance’s $171 billion in reported assets under management. Binance is one of the world’s largest cryptocurrency exchanges, offering spot, derivatives, and various blockchain-based services to millions of users globally.