Binance says outflows normalised as North Korea rejects US allegation over heist

Dawn reported that Binance co-CEO Richard Teng said withdrawals had settled after an initial surge, with the exchange in what he described as strong financial condition. Customers had withdrawn a net $4.72bn by Monday following last week’s cryptocurrency theft, while Binance said deposits were exceeding withdrawals by Tuesday and that 95 per cent of affected tokens had been restored.

The FBI has blamed North Korea for a heist worth more than $6bn, while Pyongyang rejected the accusation. Binance had suspended withdrawals for more than two days, later reopening them for some assets, and launched fee rebates and user rewards as it sought to support activity. Elliptic estimates North Korea stole $7.6bn in cryptocurrency this year, while Chainalysis linked 89pc of crypto hack losses in 2026 to the country.