Binance customers withdrew $7.4 billion from the cryptocurrency exchange after it suffered what security experts said was the largest digital coin theft ever.
On Monday, a Binance spokesperson said customers also deposited $2.7 billion after the company allowed people to resume transactions on Sunday for Bitcoin, Ethereum and other cryptocurrencies, resulting in a net outflow of $4.7 billion in the company’s holdings.
Binance, the world’s largest cryptocurrency exchange with more than 300 million users, said the value of crypto holdings being withdrawn represents just 3% of its $157 billion in total assets.
“The net outflow is a relatively limited portion of Binance’s overall asset base,” the Binance spokesperson said in an email. “Withdrawal levels are stabilizing to what we would consider normal and expected on-chain activity.”
The fund withdrawals came after cybercriminals, whom the FBI linked to North Korea, stole $6.3 billion in digital currency from Binance. Roughly $3 billion of the stolen assets were frozen, according to Binance. Freezing crypto funds allows certain issuers to block the transfer of their tokens anywhere in the world.
The hacker group believed to be responsible for the attack, known as “TraderTraitor,” was converting most of the stolen assets into Ethereum in a move to hide their tracks, the FBI said Saturday. TraderTraitor was also responsible for a February 2025 attack on another crypto exchange, Bybit, that resulted in a $1.5 billion loss, according to the FBI.
Following the Binance attack, the FBI encouraged private-sector entities “to block transactions with or derived from addresses TraderTraitor actors are using to launder these stolen assets.”
Binance has promised to cover the full losses using company funds. By early Sunday morning, it said it had covered around 95% of the impacted amount.
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