Binance suffered a hack that drained roughly $6.4 billion from hot wallets across about 10 blockchains, an attack attributed to the North Korea-linked group TraderTraitor. After reopening withdrawals, Binance has seen $3.64 billion in net outflows, according to QCP. Bitcoin ETFs saw $643 million in outflows on Friday, flipping October to -$515.9 million, while ETH ETFs posted -$1.61 billion for the month. Binance says it has set aside more than $6.34 billion to cover losses, and the FBI and Secret Service have opened probes. CFTC Chairman Michael Selig said the hack 'proves our exact point' about unregulated offshore exchanges.
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Binancecryptobitcoincybersecuritycapital flows
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Related tickers and likely impact
BNB/USDT
▼ Likely negativeBNB
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Exchange tokens |
| Market cap | $92.9B |
| Close on 11/01/2026 | 712.69 |
| Change that session | +1.24% |
BTC/USDT
▼ Likely negativeBitcoin
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 11/01/2026 | 78,354.00 |
| Change that session | +1.00% |
ETH/USDT
▼ Likely negativeEthereum
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $277.2B |
| Close on 11/01/2026 | 2,275.31 |
| Change that session | +0.87% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- OKX draws $445M in net inflows as Binance outflows exceed $7B
OKX posted about $445 million in 24-hour net inflows, the largest among tracked crypto exchanges, according to DefiLlama. Bybit ranked second with $112 million, followed by Gate at $91 million and Bitget at $54 million. Binance, which reopened withdrawals in phases after its $6.3 billion hack, recorded more than $7 billion in net outflows, up from $5.8 billion earlier on Monday. Binance said it had replenished about 95% of the affected assets using its corporate treasury, part of its SAFU fund and a portion of its futures insurance fund, and pledged to absorb the losses without passing them on to customers. Binance still held about $127.9 billion in tracked wallets, more than four times OKX's $29 billion, while about $3 billion in frozen stolen assets is separate from those replacement funds.
- Binance sees $3.64 billion in net outflows as withdrawals resume after massive hack
Binance reported $3.64 billion in net outflows after reopening withdrawals on Sunday, as customers rushed to move funds following a $6.3 billion hack. Between 6 a.m. and 3:30 p.m. UTC, the exchange processed $4.65 billion in withdrawals and $1.01 billion in deposits. The net outflows equaled 2.1% of its $171 billion in total assets, based on its latest proof-of-reserves data. Most of the outflows happened in the first couple of hours, and withdrawal volumes have since stabilized, with services restored in phases across 15 networks while testing continues for the rest. The FBI attributed the hack to North Korean hackers known as TraderTraitor, and Binance said it had covered about 95% of the lost funds and would absorb the losses rather than pass them on to users.
- Binance net outflows surge to $5.8B as withdrawals resume after record hack
According to DefiLlama data, Binance recorded $5.8 billion in net outflows over the past 24 hours as customers withdrew funds after the record $6.3 billion hack. By 3:30 p.m. UTC, the exchange had processed $4.6 billion in withdrawals against $1 billion in deposits, resulting in $3.6 billion in net outflows. Binance said withdrawals surged initially but have since slowed and stabilized, and that the outflows were a small fraction of its roughly $171 billion in assets. By 12:36 UTC, withdrawals were enabled for tokens across 15 networks, including Bitcoin, Ethereum, BNB Smart Chain and XRP Ledger, with USDT, USDC and Bitcoin the most withdrawn. On Saturday, Binance said it had replaced 90% of the lost assets using its corporate treasury, Secure Asset Fund for Users and futures insurance fund.
- Live updates: Binance records $6 billion outflows after starting withdrawals, less then 4% of total holdings
- Bitcoin ETFs sink into October outflows with $643M exit after Binance hack
US spot Bitcoin ETFs saw $643 million in net withdrawals on Friday, pushing October's net flows to a $515 million outflow, their first negative month since June, according to SoSoValue. The sell-off followed Binance's confirmation that hackers stole about $6.3 billion in crypto assets, and Bitcoin's drop to $77,000 the previous day. BlackRock's IBIT led Friday's outflows with $234 million, followed by Fidelity's FBTC with $201 million. OneKey's founder warned that IBIT could face similar security risks because it relies heavily on Coinbase to hold its Bitcoin, while Ether ETFs recorded a record $1.61 billion in October net outflows.
- Hundreds of Millions of USD Withdrawn From Bitcoin, ETH ETFs After Binance Hack
U.S. spot Bitcoin, Ethereum and Solana ETFs recorded net outflows of nearly 790 million USD on October 30, as the crypto market came under pressure after a cyberattack led to the theft of about 6.3 billion USD in digital assets from Binance. Bitcoin ETFs alone saw 643 million USD withdrawn, concentrated in BlackRock's IBIT (233.7 million USD) and Fidelity's FBTC (201 million USD). According to Reuters, most of the assets were taken within about 20 minutes, while Binance said the incident involved a breach of its transaction approval system and that it would use company resources to cover losses. Bitcoin fell to 76,368 USD and Ethereum touched 2,178 USD before partially recovering. One expert said the bigger risk lies in liquidity disruption if Binance restricts deposits and withdrawals.
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