Binance reopens withdrawals, sees net outflow of $3.64B
Binance has reopened withdrawals for 15 blockchain networks, after $6.3 billion was stolen by North Korean hackers from its hot wallets late last week.
Binance said today it had processed around $4.65 billion in withdrawals after reopening and received $1 billion in deposits. Founder Changpeng Zhao said that in the first 12 hours there had only been a 2.1% net outflow and that “98% choose to stay!”
About 95% of the stolen crypto has already been replenished, using a mixture of Binance’s corporate reserves, insurance and 50% of the funds in the Secure Asset Fund for Users (SAFU).
The biggest hack in history happened on Thursday, when North Korea’s TraderTraitor group gained access to delegated wallet permissions via a compromised laptop. Blockaid CEO Ido Ben-Natan told Cointelegraph that attackers could have stolen the funds without using EIP-7702 (account abstraction),…
