Binance: Customers of the crypto platform withdraw $3.6 billion after billions were stolen

After crypto exchange Binance resumed withdrawals, customers withdrew $3.64 billion. This corresponds to 2.1 percent of the assets under management, the company announced on Monday. The outflows have stabilized after an initial sharp increase. Binance also contradicted data from the analysis platform DefiLlama, which put the outflows at $5.81 billion. This number is inaccurate because it incorrectly includes internal transfers to new wallets, explained a Binance spokesman. The company said it had $171 billion in assets under management at the end of October.

Bitcoin prices rebounded slightly on Monday, rising above $78,000 after falling to a six-week low on Friday. Nevertheless, institutional investors were nervous: $643 million flowed out of US spot Bitcoin ETFs on Friday. A hacker attack on a crypto exchange is like robbing a bank at internet speeds, said Ari Redbord of blockchain analysis firm TRM Labs. This creates an unstable risk profile for anyone responsible for other people's capital.

In Thursday's cyberattack, hackers stole $6.3 billion worth of digital assets. Binance said the platform has now replaced 95 percent of stolen customer funds from its own reserves. The US Federal Police FBI blames a state hacker group from North Korea for the crime. However, US President Donald Trump said on Saturday that the authorship was still unclear.