Binance customers withdrew billions. Reaction after the massive theft

On Sunday, Binance experienced a withdrawal of $3.64 billion, representing 2.1% of its assets, following a major hacking incident. The exchange reported that while withdrawals initially surged, they have since stabilized, with $1 billion deposited and $4.6 billion withdrawn. Binance's co-president Yi He emphasized the importance of ensuring security before resuming full operations. The company has set aside $6 billion to cover losses. Despite the incident, some investors remain committed to the platform, citing its role in providing liquidity. Bitcoin and ether prices rebounded after the attack, although institutional investors may reduce cryptocurrency purchases due to the incident. The FBI linked the hack to a North Korean group, TraderTraitor, known for sophisticated attacks.