Binance customers withdraw billions after crypto theft
The world’s largest crypto exchange is trying to rebuild trust after tokens worth $6.3 billion were stolen.
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Customers of crypto exchange Binance have withdrawn almost $5 billion net since its reopening. The outflow follows a hack in which, according to Binance, cryptocurrency worth $6.3 billion was stolen.
Binance reported on Monday that customers had withdrawn almost $5 billion net from the platform since services resumed. Reuters earlier reported that the outflow on Sunday amounted to $3.64 billion, equivalent to about 2.1 per cent of the exchange’s assets. The outflow may point to reduced confidence, but the figures do not show why customers are withdrawing their money.
The theft took place last week and is being investigated by Binance and US law-enforcement agencies. According to Reuters reporting, the FBI and blockchain analysts linked the attack to North Korean hackers. That attribution does not yet constitute a court-established finding about individual perpetrators. The attribution to hackers alone does not explain how the attack succeeded.
The stolen amount consists of various cryptocurrencies. The company said on Sunday that it had covered about 95 per cent of the stolen tokens by buying replacement coins. Binance used, among other things, its Secure Asset Fund for Users, a $1 billion reserve fund, insurance reserves for futures trading and company assets.
The exchange resumed withdrawals of bitcoin, ether and some stablecoins in stages on Sunday. Other assets were expected to follow later. Temporarily suspending withdrawals and then reopening them in stages is intended to keep the technical processing manageable, but it may also create uncertainty for customers about the immediate availability of their holdings.
The consequences extend beyond Binance. Reuters reported that bitcoin funds recorded outflows of $643 million on Friday and that more than $1.3 billion in leveraged positions were liquidated. These are market data, but they do not prove that every movement was caused solely by the Binance attack.
For Dutch users, the central question therefore remains not a price forecast but the protection of assets. Cryptocurrency held on an exchange is not a bank deposit with the same statutory protection as money in a current account. Whether customers are fully compensated depends on Binance’s own reserves, further technical analysis and any proceedings. The scale of the outflow makes clear that the restoration of trust is not yet complete.
Also show the region and a close-up
Both sides of the figures
▲ Bright spots
- Binance said it had covered about 95 per cent of the stolen tokens with replacement coins.
- According to Reuters, the company has a $1 billion Secure Asset Fund for Users.
▼ Concerns
- According to Reuters, customers withdrew almost $5 billion net after the reopening.
- According to AP, the hack involved cryptocurrency worth $6.3 billion.
Critical note
The outflow may be a sign of reduced confidence, but in itself it does not indicate how many customers will ultimately suffer losses or how great the remaining risk at Binance is.
Who notices what
- Households
- Dutch crypto investors may face delays, price fluctuations and uncertainty about the availability of their assets.
- Businesses
- Crypto and fintech companies are again being prompted to consider custody, security and continuity risks.
- Investors
- The attack could contribute to further outflows and market volatility around crypto exchanges.
Every point comes from the article’s sources and was included in the fact check.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The key figures on the outflow and the theft are based on Reuters and AP. Attributions to North Korean actors are presented as an investigation, not as an established finding.
- confirmed Binance customers withdrew almost $5 billion net since the reopening — Reuters reported a nearly $5 billion net outflow on 2 November 2026. source
- confirmed Cryptocurrency worth $6.3 billion was stolen in the hack — AP reported the amount cited by Binance. source
- confirmed The FBI and analysts linked the attack to North Korea — Reuters sources reported this attribution; the article does not present it as a court-established fact. source
Editor's note
The new development is the substantial outflow after Binance reopened. The technical cause and the identity of the attackers are still under investigation.Sources
- Binance says customers pulled net $4.7 billion after hack — Reuters via Euronext
- What to know about the $6.3B hack on Binance — Associated Press
More on this in Dutch media
- RTL Nieuws — „binance cryptovaluta”
- FD — „binance cryptovaluta”
- Trouw — „binance cryptovaluta”