Binance restores HYPE and APT withdrawals as reserves fall after $6.3bn hack

Key points

• Binance reopened HYPE and APT withdrawals on 8 Nov, ahead of a target it set on 6 Nov for six assets including INJ, PLASMA, NEAR and LTC.
• CryptoQuant data through 8 Nov shows Binance's Bitcoin reserves down about 56,000 BTC, or 7.7%, and ether reserves down 400,000 ETH, or 11.5%.
• Ethereum-based stablecoin reserves fell from about $41bn to $32bn, a 22% drop, though the latest daily flow was a positive $27.9m.

Binance restored withdrawals for hyperliquid (HYPE) and aptos (APT) on 8 Nov, moving ahead of the schedule it set two days earlier. The exchange is still working back from the 29 October attack, in which about $6.3bn was taken from hot wallets across several blockchains. Blockchain investigators and US authorities have attributed the theft to North Korean hackers, and it ranks as the largest crypto theft recorded in dollar terms.

The first two came back early, while other routes await individual security checks. Binance had already resumed withdrawals on 1 Nov across 15 networks and later added dozens of tokens on Ethereum and Solana.

CryptoQuant data through 8 Nov shows the cost to the exchange's holdings. Its Bitcoin reserves fell from about 730,000 BTC to 673,700 BTC, a drop of roughly 56,000 BTC, or 7.7%, worth about $4.2bn at a Bitcoin price of $75,800 on Sunday. Ether reserves slipped from 3.48 million to 3.08 million ETH, down 400,000 ETH or 11.5%. Ethereum-based stablecoin reserves contracted from about $41bn to $32bn, a 22% fall.

Daily outflows have eased, with the latest readings showing small positive netflows for Bitcoin and stablecoins. CryptoQuant's figures include movements linked to the theft and the hacker, and cover only Ethereum-based stablecoins. Arkham, which uses different attribution, put Binance's labelled holdings at about $163bn on 8 Nov. Binance said on 4 Nov that about 98% of affected assets had been replenished.

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