Crypto analyst Darkfost said Binance’s reserve assets fell only moderately after the exchange was hit in an attack allegedly linked to North Korean hacking group Lazarus Group, suggesting the impact on users appears limited. The incident, described as a roughly $6.3 billion loss and the largest theft on record in the crypto industry, triggered sizable outflows across several major assets.
During the attack window, Binance saw 18,279 BTC, 185 million XRP and $1.67 billion in USDT leave the platform. Ether moved out in two batches of 167,464 ETH and 79,376 ETH, for a combined 246,840 ETH. Based on same-day reserve changes, BTC reserves fell 3.1% to more than 682,000 BTC, ETH dropped 8.5% to 3.3 million ETH, XRP declined 8% to 2.47 billion XRP, and USDT slipped 6.3% to $34.1 billion.
Binance said it had frozen about $3 billion in related assets, including $1.567 billion in USDT and more than $800 million in USDC. The exchange also said losses would be covered through its SAFU fund and corporate reserves. Darkfost said the scale of reserve changes indicates Binance still retains some capacity to absorb the shock.
Odaily reported that crypto analyst Darkfost said Binance’s reserve assets posted only a moderate decline after the exchange was hit yesterday in an attack allegedly tied to North Korean hacking group Lazarus Group, suggesting the effect on users appears limited. The loss was put at about $6.3 billion, a record for the largest theft in the history of the crypto industry.
Asset outflows recorded during the incident
Data showed that during the attack, 18,279 BTC, 185 million XRP and $1.67 billion in USDT flowed out of Binance. ETH left in two batches, one of 167,464 ETH and another of 79,376 ETH, bringing the total to 246,840 ETH.
Same-day reserve changes
Based on reserve changes for the day, BTC reserves fell 3.1% to more than 682,000 BTC. ETH reserves dropped 8.5% to 3.3 million ETH. XRP reserves declined 8% to 2.47 billion XRP, while USDT reserves fell 6.3% to $34.1 billion.
Binance says related assets have been frozen
Binance said it had frozen about $3 billion in related assets, including $1.567 billion in USDT and more than $800 million in USDC. The exchange also said it would cover losses through its SAFU fund and corporate reserves.
Darkfost said the scale of the reserve changes suggests Binance still has some ability to absorb the shock.
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