Investors pull billions in funds from Binance after record $6.3bn hack

Cryptocurrency exchange has begun to allow withdrawals after theft believed to have come from North Korea

Investors have pulled $3.6bn (£2.7bn) in funds from the cryptocurrency exchange Binance as it recovers from a record hack in which billions were stolen from customer accounts.

The platform was hit by a $6.3bn theft on Thursday, which has since been described as the biggest heist in history. Experts identified North Korea as the probable culprit.

Binance initially froze withdrawals as it investigated the breach but on Sunday announced it had begun a phased reopening.

By Sunday afternoon, the platform had processed $4.6bn in withdrawals and $1bn in deposits, resulting in a net outflow of about $3.6bn – representing 2.1% of its $171bn in total assets under management.