Binance Outflows Normalize as North Korea Denies US Hack Allegations

Binance says customer withdrawals have normalized after the platform froze withdrawals for more than two days and then reopened assets in stages. The numbers matter for high-risk payment and crypto operators because they show how quickly liquidity pressure can build around a major exchange incident, and how fast it can reverse once service resumes.

1. By Monday, customers had withdrawn a net $4.72 billion from Binance. The first 24 hours saw the sharpest spike in withdrawals, but hourly deposits are now exceeding withdrawals, and net outflows since service resumption amount to 3% of total assets.
2. The exchange resumed services for certain assets on Sunday morning and opened more assets on Tuesday. Co-CEO Richard Teng said the platform remains in very strong financial health and said Binance has replenished 95% of the affected tokens.
3. To slow the bleed, Binance launched a community appreciation campaign running until November 21. It includes fee rebates and rewards for users who hit $10,000 in cumulative trading volumes, plus up to 10% annual percentage rates on specific yield products.
4. North Korea strongly denied US allegations linking it to the record $6.3 billion Binance cryptocurrency heist. Kim Yo Jong, the sister of North Korean leader Kim Jong Un, called the claims absurd rhetoric and a grave political provocation, and accused the FBI of trying to portray North Korea as a cyber-criminal state.
5. The FBI said the theft was carried out by a North Korean state-linked group called TraderTraitor. A recent Reuters report quoted Lim Eul-chul of Kyungnam University as saying Pyongyang likely wants to avoid further US measures targeting crypto wallets that could choke off its funding.

For context, the money here is not just exchange P&L drama. Blockchain analytics firm Elliptic estimates North Korea has stolen a record $7.6 billion in cryptocurrency throughout 2026, while Chainalysis says North Korea accounts for 89% of all crypto hack losses this year, up from 15% in 2021. The average reported loss per hack also rose from $50.65 million in 2021 to $185.65 million in 2026.