Binance, the world's biggest cryptocurrency exchange, has suffered the largest cyber theft in history, with approximately $6.3 billion in digital assets stolen. The FBI attributed the attack to North Korea, stating that the hackers rushed to convert the stolen funds. This heist underscores a growing cyber threat, as North Korea uses stolen cryptocurrency to fund its nuclear ambitions.
Following the incident, the exchange froze transactions before reopening withdrawals on Sunday. Traders subsequently pulled billions from the platform, with net withdrawals reaching $4.7 billion by Monday morning in London. Other records indicate that Binance booked $3.64 billion in net outflows after resuming services.
The exchange has moved to reassure investors, stating that withdrawals were stabilizing after an initial spike. Binance noted that the net outflows represent between 2.1% and 3% of its total holdings and assets, suggesting that customer confidence has largely held up.