Binance sees $3.64B outflows after $6.3B North Korea-linked hack

Binance, the world’s largest cryptocurrency exchange by volume, reported $3.64 billion in net outflows after a massive security breach drained $6.3 billion in digital tokens. The theft, which security researchers and blockchain analytics firms have linked to North Korean state-sponsored hackers, triggered a wave of customer withdrawals as users rushed to secure their assets. Binance said it has since resumed normal transaction processing and that customer funds remain safe, but the incident has reignited concerns about exchange security and the growing sophistication of crypto heists. The scale of the outflow underscores how quickly trust can erode in the digital asset market, even for a platform that has long touted its robust safeguards. Analysts note that North Korea has increasingly turned to cryptocurrency theft as a way to fund its regime, with this incident ranking among the largest in history. For Binance, the immediate challenge is restoring confidence while regulators watch closely. The exchange has promised a full investigation and improved security measures, but investors may remain wary. As the crypto industry grapples with yet another high-profile breach, the question is whether exchanges can ever fully protect against state-backed cyberattacks.