UPDATE: Competing exchanges see $564M in inflows following Binance exploit
CIE News ·
Update to UPDATE: FBI and US agencies tie Binance breach to North Korea's TraderTraitor
Based on reporting by The Defiant; not yet independently confirmed.
Rival platforms captured $564 million in net inflows on November 1, 2026, as capital moved away from Binance after a $6.3 billion breach attributed to North Korea.
Competing cryptocurrency exchanges saw $564 million in total net inflows on November 1, 2026, as capital shifted following the $6.3 billion breach at Binance. OKX recorded $370.08 million in net inflows, while Bybit saw $149.35 million. As previously reported, federal authorities attributed the attack to the North Korean state-sponsored group known as TraderTraitor.
Industry leadership responded to the breach with security measures and calls for coordination. Coinbase Chief Security Officer Jeff Lunglhofer said the company modified its cold storage systems, while Kraken confirmed it was tracking flows alongside standard operations. OKX CEO Star Xu called for the development of industry-wide security notification mechanisms.
Binance has begun restoring user withdrawals in phases after replacing approximately 95 percent of the impacted assets, aljazeera.com reported. The exchange stated it will absorb the financial losses from the theft.
Key facts
- $564M inflows to competitors
- $370.08M net inflows to OKX
- $149.35M net inflows to Bybit
- TraderTraitor group implicated
Read the original at The Defiant