Binance reports $3.6 billion net outflows after North Korean-linked hack
Binance reported net outflows of about $3. 6 billion after a hack linked to North Korea, noting that it had processed $4. 65 billion in withdrawals and $1. 01 billion in deposits while restoring roughly 90 % of the stolen assets and resuming withdrawals. The breach, first identified as a loss of more than $6 billion, prompted the exchange to freeze over $2. 5 billion, halt deposits and withdrawals, and work with authorities.
Blockchain analysts and the FBI later attributed the theft to a North Korean hacking unit, and Binance said it would cover all user losses. Earlier reports described the outflow of $5. 5 billion from Binance hot wallets and the temporary suspension of withdrawals on several networks as the exchange investigated the incident. Stablecoin issuers froze roughly $1. 8 billion of assets, and the suspected attacker moved funds through DeFi platforms such as Uniswap and Aave. Subsequent industry responses included tighter security measures across other crypto exchanges.