Binance users pull $3.64B from exchange after biggest crypto heist

Binance, the largest cryptocurrency exchange by trading volume, said it recorded about $3.64B in net outflows early on Sunday as it resumed withdrawals following last week's massive $6.3B hack.The exchange began restoring withdrawals in phases on Sunday. Between 1 am EST and 10.30 am EST, Binance processed ~$4.65B in withdrawals and $1.01B in deposits.That resulted in $3.64B in net outflows, representing 2.1% of Binance's $171B in total assets under management based on its Proof of Reserves data as of Oct. 28."After an initial spike, withdrawal volumes have declined and are stabilizing as expected, while deposit volumes have remained substantial," the exchange posted on X."Our team continues testing rigorously the remaining networks and assets. Rest assured that market conditions are stable," it added.Changpeng Zhao, Binance's founder and former CEO, pointed out that while net outflows amounted to 2.1% of the platform's AUM, "98% choose to stay!"Binance was hacked last Thursday through an employee's compromised laptop, with the attacker stealing $6.3B worth of digital assets from the platform. Binance reserved more than $6.34B of company funds to cover the losses.The Federal Bureau of Investigation said the attack, which is the biggest crypto heist ever, was carried out by North Korea–linked hackers it referred to as Crypto-related stocks to watch: Coinbase , Circle , Strategy , Bakkt .Content provided by Seeking Alpha is intended for information purposes only, and that Seeking Alpha does not offer any personalist investment advice and is not a licensed securities dealer, broker, US investment adviser or investment bank.