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Binance clients in France, Italy, Spain and Poland are receiving notices that their accounts will be closed on December 31, 2026: the exchange never obtained a MiCA license (the EU's overarching crypto law). From November 29, a fee of 0.025% per month, minimum 10 USDC, will be charged on money remaining in the account.
The exchange published a report on the October 29 hack. It all began when a Binance engineer was looking for a new job and downloaded a "test assignment" from a fake employer onto his work computer. The FBI attributed the $6.4 billion theft to the North Korean group TraderTraitor.
The FBI officially named the North Korean group TraderTraitor as the culprit behind the October 29 Binance hack. After the findings were released, clients withdrew a net $3.64 billion - 2.1% of all exchange assets.
Binance resumed withdrawals after the largest crypto hack in history at $6.3 billion and in the first nine and a half hours paid out a net $3.64 billion. The exchange itself calls this 2.1% of its assets.
On Thursday, about $6.3 billion was withdrawn from Binance wallets — the largest theft in crypto market history. The exchange has reserved $6.34 billion to compensate clients, but withdrawals for users still do not work.
Binance co-CEO Richard Teng stated that no traces of a private key leak (secret access codes to wallets) were found. At the same time, 11 keys of the exchange's hot wallets (wallets connected to the network for fast payouts) signed transfers to the attacker's address. Withdrawals from the exchange are still halted.
