Binance Faces Surge in Crypto Withdrawals Following $6.3 Billion Hack
Binance, the world's largest cryptocurrency exchange, has experienced a significant increase in customer withdrawals after a major cyberattack resulted in the theft of approximately $6.3 billion in digital assets. The incident has raised fresh questions about cryptocurrency security, exchange resilience and investor confidence as the platform works to restore normal operations. According to a report by Reuters, customers withdrew around US$3.64 billion, equivalent to approximately A$5.18 billion, representing 2.1 per cent of Binance's assets as the exchange resumed services following the attack. The withdrawal activity has become an important indicator of whether customers continue to trust the platform with their digital investments. Binance Reports Stabilising Withdrawals Binance said withdrawals had begun to stabilise following an initial surge, while deposits remained substantial. The company also stated that it had covered approximately 95 per cent of the stolen assets, u...