Binance customers withdraw billions after hacker attack

After the record billion-dollar theft of digital currencies at the world's largest crypto exchange Binance, the resumption of payouts has triggered a wave of withdrawals. As the company announced, customers withdrew $3.64 billion. This corresponds to 2.1 percent of the assets under management.

The outflows have stabilized after an initial sharp increase. The platform began a gradual reopening on Sunday. Binance also contradicted data from the analysis platform DefiLlama, which put outflows at $5.81 billion. This number is inaccurate because it incorrectly includes internal transfers to new wallets, explained a Binance spokesperson.

Stolen funds will be replaced

For many customers, the largest hacker attack in crypto history could end lightly: Binance announced that it had now offset around 95 percent of the stolen funds from its own company reserves - previously it was said to be 90 percent.

To restore customer confidence, Binance announced that it would provide an updated Proof of Reserves today. With this cryptographic process, users can mathematically check whether their individual account balances are actually deposited one-to-one with real holdings in the company wallets.

In Thursday's cyberattack, hackers stole assets worth $6.3 billion.

Bitcoin price is recovering

The Bitcoin price recovered slightly and rose to over $78,000 today. After the hack became known, the cryptocurrency had lost five percent of its value, and Ethereum had fallen by almost six percent. BNB, Binance's own currency, plunged ten percent.