Darkfost2026-11-01

$4B+ leave Binance since withdrawals resumption after the Lazarus $6.3B hack

Following the hack of approximately $6.3 billion in assets that hit Binance on October 29, the platform had to suspend withdrawals in order to stem the outflows and protect its users. This Morning the FBI’s cyber division has since attributed the attack to the Lazarus Group (DPRK). While this pause may have been viewed negatively, it allowed Binance to rebuild its reserves so that no user would be left out of pocket. Yesterday, the platform announced that it had restored more than 90% of the stolen assets, paving the way for a swift resumption of withdrawals. This morning, withdrawals became available again, first on Bitcoin, then on other major assets such as ETH, USDT and USDC. Since the resumption, 19,569 BTC have been withdrawn, worth nearly $1.5 billion, along with 154 147 ETH, worth nearly $360 million. On the stablecoin side, $1.96 billion in USDT and $557 million in USDC had been withdrawn at the time of writing. This exploit highlights security weaknesses and reignites the debate over centralization. However, it must be acknowledged that the response from Binance, as well as from players such as Tether and Circle, helped limit the impact of the incident, particularly for users. The platform’s commitment was underscored by its use of its own funds to guarantee that users could recover their assets. Given the current pace of withdrawals, which appears to have returned to normal, that commitment seems to have been honored.