Following a cyberattack on Binance, assets held on the platform declined by $3.64 billion

Binance users have withdrawn $3.64 billion from the platform. This amounts to roughly 2.1% of the assets held on the exchange. According to the company, the outflow was sharp at first but soon slowed down, and deposits also continued.

As a result of a cyberattack, approximately $6.3 billion worth of crypto assets were stolen from Binance. The company has already covered 95% of the lost funds and has allowed users to withdraw Bitcoin, Ethereum, and several other cryptocurrencies. The remaining portion involves coins that are traded in relatively low volumes on the market, which is why acquiring the necessary amounts takes more time.

The FBI has linked the attack to the North Korea-affiliated TraderTraitor group. According to the investigation, the hackers carried out the main operation in about 20 minutes.

Binance states that it will cover users' losses itself. To do this, the company will use its own funds, an insurance fund, and reserves.

The platform has 335 million users and holds approximately $171 billion in assets.

Source: Reuters