Binance says it has replenished 95% of assets lost in the $6.3 billion theft, while customers have withdrawn $4.72 billion net since withdrawals resumed Nov. 1.
A Binance spokesperson said net customer withdrawals reached $4.72 billion after withdrawals resumed Nov. 1. Binance said the total represented about 3% of the assets on its platform. The exchange also reported $2.7 billion in customer inflows since Sunday.
Binance Co-CEO Richard Teng described deposits and withdrawals as close to their customary levels at Hong Kong Fintech Week on Tuesday. He said Binance remained financially strong enough to cover the loss, repeating his earlier assurance about the exchange’s financial strength.
The exchange says it has more than 335 million users worldwide and averages $95 billion a day in crypto and derivatives trading.
Binance said its emergency protection fund and company reserves have replaced 95% of the affected cryptocurrency. The exchange is seeking the balance, which consists of less-liquid tokens, through over-the-counter (OTC) providers. Replenishing assets on Binance addresses the exchange’s shortfall; recovering the stolen cryptocurrency is a separate effort.
Elliptic, a blockchain analytics firm, puts the cryptocurrency still controlled by the attackers at about $3.28 billion, mostly Bitcoin (BTC) and Ether (ETH). Circle said more than $1.1 billion in USDC had been frozen. A freeze alone does not establish that victims have regained access to the funds.
The FBI said North Korea’s TraderTraitor hacking group was behind the theft, an allegation Pyongyang denied. Other exchanges also received inflows after Binance resumed withdrawals, Gulf News reported, though it said the amounts could not be traced directly to Binance customers. Gulf News also cited HashKey Group senior researcher Tim Sun, who said the event had not prompted a broad, immediate customer exit.
Teng said Binance would release a detailed report on the incident but gave no timetable.
