{"id":31642,"date":"2026-11-04T06:40:24","date_gmt":"2026-11-04T06:40:24","guid":{"rendered":"https:\/\/pettysackingforum.com\/?p=31642"},"modified":"2026-11-04T06:40:24","modified_gmt":"2026-11-04T06:40:24","slug":"binance-sees-5-billion-in-outflows-after-record-6-3-billion-breach","status":"publish","type":"post","link":"https:\/\/pettysackingforum.com\/?p=31642","title":{"rendered":"Binance sees $5 billion in outflows after record $6.3 billion breach"},"content":{"rendered":"
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Binance has experienced more than $5 billion in cryptocurrency outflows following the reopening of withdrawals after a record-breaking $6.3 billion security breach. <\/p>\n

Meanwhile, blockchain investigators report that North Korean hackers have moved approximately $242 million in stolen assets through the Tron network, intensifying scrutiny of decentralized finance protocols.<\/p>\n

The developments have raised concerns about exchange security, customer confidence, and the ability of authorities to prevent stolen cryptocurrency from moving across blockchains.<\/p>\n

Binance records $5B outflows after withdrawal reopening<\/h2>\n

Binance witnessed substantial cryptocurrency movements after restoring withdrawals on November 1, following a security breach on October 29<\/a> that resulted in approximately $6.3 billion in stolen assets.<\/p>\n

According to GreyBTC, more than $5 billion moved out of Binance-associated wallets within 24 hours of withdrawals reopening.<\/p>\n

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https:\/\/twitter.com\/greybtc\/status\/2117207786266456187 <\/div>\n<\/figure>\n

The figure represented approximately 3% of the $171 billion in assets reported by Binance before the attack.<\/p>\n

However, DefiLlama’s blockchain tracking data can include internal exchange wallet transfers, meaning the entire $6 billion should not be interpreted as customer withdrawals.<\/p>\n

Binance initially suspended withdrawals for approximately 45 hours before gradually restoring access to major cryptocurrencies, including Bitcoin, Ethereum, Solana, XRP, and stablecoins.<\/p>\n

During the first nine and a half hours, Binance reported processing $4.649 billion in withdrawals against $1.01 billion in deposits, producing net outflows of approximately $3.64 billion.<\/p>\n

Despite the significant activity, Binance maintained that withdrawal demand had begun stabilizing.<\/p>\n

The disruption coincided with increased cryptocurrency inflows at competing exchanges.<\/p>\n

According to DefiLlama data, OKX recorded approximately $450 million in net inflows<\/a>, while Bybit received around $134 million.<\/p>\n

Although these movements suggest traders were repositioning assets across trading platforms, available data does not establish how much originated directly from Binance.<\/p>\n

Binance also reported replenishing approximately 95% of the assets affected by the breach as of November 1.<\/p>\n

The remaining portion primarily involved less liquid cryptocurrencies, which may require additional time to replace.<\/p>\n

North Korean hackers allegedly launder $242 million<\/h2>\n

While Binance managed customer withdrawals, blockchain investigators identified substantial movements of stolen cryptocurrency across decentralized networks.<\/p>\n

According to <\/a>the on-chain investigator SomaXBT, North Korean attackers laundered approximately $242 million through Tron within two days.<\/p>\n

\n
https:\/\/twitter.com\/somaxbt\/status\/2116884703655723207 <\/div>\n<\/figure>\n

The hackers reportedly stole around $628 million in Tron-based assets. However, stablecoin issuer Tether froze approximately $378.7 million in USDT, limiting the amount available for further movement.<\/p>\n

Investigators estimated that approximately $194 million of the $242 million subsequently moved off Tron through bridges and swapping services.<\/p>\n

Another $26 million remained on the network, while approximately $22 million was attributed to transaction costs, slippage, and market fluctuations.<\/p>\n

Several decentralized cryptocurrency services reportedly processed transactions associated with the stolen assets.<\/p>\n

Relay handled approximately $48 million, followed by THORChain with $44 million, Chainflip with $32.1 million, and Symbiosis with $16 million.<\/p>\n

Together, these protocols accounted for roughly $140 million in movements. Investigators also identified $41.7 million processed through Bitget Wallet, although the final destination remained unclear.<\/p>\n

Symbiosis acknowledged weaknesses in its screening mechanisms and said it was working to address them.<\/p>\n

The findings highlight the difficulties decentralized protocols face when identifying and restricting sophisticated money-laundering activity across multiple blockchains.<\/p>\n

FBI pressures crypto platforms to block stolen funds<\/h2>\n

The FBI attributed the Binance attack to North Korea’s TraderTraitor hacking group, which has previously been associated with major cryptocurrency thefts.<\/p>\n

Working alongside other US authorities, the agency urged THORChain operators, decentralized exchanges, and infrastructure providers to restrict transactions linked to the stolen assets.<\/p>\n

Investigators identified hundreds of cryptocurrency addresses associated with the attack.<\/p>\n

Meanwhile, blockchain analytics firm Elliptic reported that approximately $2.85 billion in stolen assets had been frozen or seized<\/a>.<\/p>\n

Despite these interventions, billions remained outside the reach of conventional asset-freezing mechanisms.<\/p>\n

The post Binance sees $5 billion in outflows after record $6.3 billion breach<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Binance has experienced more than $5 billion in cryptocurrency outflows following the reopening of withdrawals after a record-breaking $6.3 billion security breach.  Meanwhile, blockchain investigators report that North Korean hackers have moved approximately $242 million in stolen assets through the Tron network, intensifying scrutiny of decentralized finance protocols. The developments have raised concerns about exchange […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[],"class_list":["post-31642","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=\/wp\/v2\/posts\/31642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31642"}],"version-history":[{"count":0,"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=\/wp\/v2\/posts\/31642\/revisions"}],"wp:attachment":[{"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}