A $6.3 billion cyber-theft hit Binance on Oct. 29, leading the exchange to halt withdrawals. The platform reopened them on Sunday. Since then, customers have withdrawn a net $5.6 billion - roughly 3.5% of Binance's total assets - the spokesperson said.
The company said on X on Sunday that it had $171 billion in assets. By Monday, a spokesperson said internal estimates that reflect the hack, subsequent withdrawals and market moves showed $157 billion.
The US Federal Bureau of Investigation has tied the hack to North Korean hackers, a claim North Korea denies. Elliptic said its analysis "supports the FBI's attribution specifically to the North Korean state-linked group TraderTraitor."
"By around 3:00 UTC on Nov. 3, hourly deposits began exceeding hourly withdrawals, reflecting improving user activity and a normalization of flows," the spokesperson said.
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Binance's share of spot trading slipped to about 42% in the last seven days, down from around 48% just before the breach and roughly 51% in mid-August, according to Kaiko. That puts its presence at the weakest level in at least 12 weeks, while Coinbase, OKX and Kraken all gained ground. Kaiko's figures cover the top 10 venues and note that Nov. 3 data is partial. The "Others" group includes Bitstamp, Gemini and EDX Markets.
OKX's slice of spot activity climbed to roughly 14% for the week, compared with about 11% a week earlier. Coinbase edged up to 9.6% from around 9%, Kaiko's data show.
Liquidity is shifting at the margins, and for active traders that can change where orders fill best. Binance still holds the largest share, but rivals are capturing more flow as users diversify.
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