---
title: Binance clients withdraw billions following record cyberattack
url: https://www.dataloco.com/en/binance-clients-withdraw-billions-following-record-cyberattack
published: 2026-11-04T22:20:51+00:00
language: en
section: Security
source: https://olhardigital.com.br/2026/11/02/pro/clientes-da-binance-sacam-bilhoes-em-criptomoedas-apos-ataque-hacker/
organizations: Binance, TRM Labs, IAM Brasil
publisher: Dataloco
---

# Binance clients withdraw billions following record cyberattack

Clients of the cryptocurrency exchange Binance withdrew approximately 4.6 billion US dollars and deposited 1 billion US dollars in digital assets on Sunday, November 1, after the platform partially resumed withdrawal services. This activity occurred in the immediate aftermath of a major security breach that targeted the company's infrastructure.

The net outflow of funds reached 3.64 billion US dollars, a figure that Binance stated represented 2.1 percent of the total assets held on its platform. The exchange disclosed this information through a public post on the social media platform X. The significant movement of capital highlights the immediate financial reaction of users to the recent security incident.

The exchange was the target of the largest cyberattack in the history of the cryptocurrency sector on Thursday, November 29. Cybercriminals stole 6.3 billion US dollars in digital assets during the breach. The Federal Bureau of Investigation and other analysts attributed the attack to hackers based in North Korea. In response to the theft, Binance announced that it had gathered 6 billion US dollars to compensate for the losses incurred by its users.

The funds allocated for compensation were sourced from the exchange's cash reserves, an insurance fund, and a specific reserve established to cover security incidents. The attack itself occurred around 5:00 PM in the local time zone of Brasília and lasted for approximately 20 minutes, according to transaction records analyzed by security experts. Initially, the company suspected that the attackers had compromised the computer of one of its engineers. Subsequently, the exchange reported finding security flaws that may have been exploited by the cybercriminals.

According to the research firm TRM Labs, the hackers compromised the system responsible for authorizing cryptocurrency transfers. A portion of the stolen funds was held in stablecoins, which are digital assets designed to maintain a stable value by mirroring traditional currencies such as the US dollar. The incident has prompted discussions about the distinction between the security of the underlying blockchain technology and the security of the platforms used to store and trade these assets.

Binance was founded in 2017 in Shanghai, China. According to its most recent annual report published in 2025, the company has 335 million registered users worldwide. The same report indicates that the exchange was responsible for approximately 162.8 billion US dollars in digital assets at the time of publication. The scale of the breach and the subsequent financial measures underscore the evolving nature of threats in the digital asset space.