Binance, the world's largest cryptocurrency exchange, saw a massive exodus of funds over the weekend as customers withdrew more than $3.6bn (£2.7bn) following a record hack last week. The breach impacted $6.3bn worth of digital assets, prompting the firm to temporarily suspend all transactions. Binance has since covered around 95% of the stolen assets but warned that recovering the remaining amount may take longer.
The exchange resumed withdrawals for major cryptocurrencies like Bitcoin and Ethereum on Sunday, with an initial surge in withdrawals that later stabilized. Binance posted on X that withdrawals are now 'stabilising as expected' and that more services will resume in phases once security checks are completed. The company has repeatedly assured users that it will cover all losses linked to the attack.