Binance Sees $4B Outflow After $6.3B Hack
The reported withdrawals put user confidence and exchange liquidity in focus as Binance resumes operations after the attack.
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The reported withdrawals put user confidence and exchange liquidity in focus as Binance resumes operations after the attack.
Bitwise CIO Matt Hougan expects prices to recover within a week, while the response to the breach, including frozen funds and Binance’s user reimbursement, is being cited as evidence of a more mature…
If substantiated, the alleged loss would rank among the largest thefts ever reported, but the seed provides no details to verify the claim or identify affected funds.
Withdrawals could remain suspended for up to 48 hours as Binance says SAFU and company funds will cover losses.
The transfer leaves $195M in ETH still held by the exploiter, keeping a large pool of stolen funds in play.
The stolen holdings included BP, MARSCOIN and CASHCAT, which the attacker swapped into ETH, BNB and SOL before laundering the funds.
A handful of mega-breaches now define the industry's annual security tally, and a state-sponsored adversary sits behind 37% of the bill, raising the stakes for every exchange and protocol custody…
Two small test transfers triggered no alerts before the attacker exploited a third-party security product's zero-day to issue fraudulent withdrawals.
The freeze reaches only a small share of the $351.6M haul: more than 63,000 ETH remains in exploiter addresses beyond stablecoin issuers’ control.
The reassurance comes as withdrawals resume could test whether customers trust the exchange's ability to withstand losses and a potential run.
The case highlights the gap between legal authority and asset recovery: court backing can support tracing, but it cannot guarantee stolen funds become recoverable.
Coldcard losses alone climbed past $100M as investigators widened the scope, proving a vendor-level flaw can drain thousands of cold wallets at once.
Bitcoin is flat to slightly red on the week, the Fear & Greed Index is pinned at 20, and a fresh wave of bridge and protocol exploits has pushed June's hack count above 20.
Two crypto exploits last month drained nearly $600 million in combined losses, with investigators linking both attacks…