Binance users withdraw $3.6bn after record crypto hack

Customers withdrew a net $3.64 billion in assets from Binance as the world's largest cryptocurrency exchange reopened on Sunday following a record hack the previous week.

Large outflow follows exchange reopening

The withdrawals represent the net movement of assets away from the exchange after trading services resumed. The figure is equivalent to £2.72 billion.

Binance's reopening came after the security incident, described in the source as a record hack. The scale of customer withdrawals places the movement of funds at the center of the exchange's immediate aftermath.

Why the withdrawals matter

The outflow provides a measure of how much cryptocurrency customers removed from Binance during the period surrounding its return to operation. It also highlights the financial impact that can follow a major security incident at a large digital-asset platform.

No further details about the hack, the assets involved or Binance's next steps were provided.

What is known

• Binance is described as the world's largest cryptocurrency exchange.
• The exchange reopened on Sunday.
• Customers withdrew a net $3.64 billion in assets.
• The withdrawals followed a record hack the previous week.