Binance sees spike in withdrawals as exchange returns online after US$6.3 billion hack

Binance, the world's largest cryptocurrency exchange, experienced a significant surge in withdrawals after it returned online following a massive US$6.3 billion hack. This spike in withdrawals, valued at US$3.64 billion, or 2.1% of its assets, is a natural response from customers seeking to secure their funds after the security breach. The hack, linked to North Korean hackers, has caused concern among investors and highlights the vulnerability of cryptocurrency exchanges to cyber attacks.

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Binance customers have pulled a significant amount of assets, but the exchange is still operational. This could lead to increased confidence in the exchange's ability to manage risks.

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