Binance saw a huge outpouring of withdrawals when it re-opened to customers on Sunday following a hack for the history books. The cryptocurrency exchange lost $6.3 billion, roughly $3 billion of which was frozen in transit and the rest covered by the company, but it lost a bunch more once it let customers take their money out on November 1.
Customers withdrew $4.649 billion from the exchange in just under 10 hours since it reopened. That's a whole lot of value to lose in a day, and not wholly surprising given the context, but what is more surprising is how many deposits were made in that same timeframe: roughly $1 billion worth.
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The FBI holds North Korea responsible, agreeing with experts that a group going by the name of TraderTraitor is behind it. The FBI says that it, along with USSS and IRS-CI, has observed the group converting the stolen crypto into Ether, with a view to launder it away into obscurity later.
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