Binance Withdrawals Accelerate To $10.97 Billion
Customer withdrawals from Binance have accelerated to $10.97 billion U.S. days after the cryptocurrency platform experienced a massive theft.
Binance clients have now withdrawn nearly $11 billion U.S. in crypto and cash from the trading platform since it resumed withdrawals on Nov. 1.
Withdrawals have exceeded deposits by $5.28 billion U.S., according to the company.
Investors are pulling money from Binance following a record breaking $6.4 billion U.S. hack of the platform on Oct. 30. U.S. authorities say North Korea is behind the theft.
Withdrawal pressure at Binance has been intense over the past 48 hours. At its peak, $936 million U.S. more left Binance than entered the platform in a single hour, said the company.
However, Binance continues to reassure investors that its trading platform is stable and safe after the hack. The company has pledged to repay investors any money they lost.
In the last day, Binance co-founder Changpeng Zhao (CZ) said in media interviews that “users did not suffer any loss” and that “there's no 100% security.”
Binance is privately held and its stock does not trade on a public exchange.
This story was originally published by CryptoProwl. Read the original article.
