Binance saw nearly $3.8 billion withdrawn within ten hours after gradually reopening withdrawals on November 1, 2026. The funds had been frozen following an October 29 hack in which attackers drained approximately $6.3 billion from the exchange’s hot wallets. The FBI and blockchain analytics firms linked the attack to the North Korean group TraderTraitor, previously responsible for the 2025 Bybit breach. Binance has pledged to cover the losses using its Secure Asset Fund for Users, futures insurance and corporate treasury, and says it has replenished about 95% of the affected assets.
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