Add as a preferred source on GoogleBitcoin ETFs Record $643.2 Million Outflow, Biggest Since June 25
IBIT led withdrawals at $233.7 million. Binance said its hot wallets were compromised the prior day in an incident affecting about $6.3 billion in token assets.
U.S. spot Bitcoin (BTC) exchange-traded funds recorded $643.2 million in outflows Friday, Oct. 30, their biggest daily withdrawal since June 25, in the first U.S. trading session after Binance said its hot wallets were compromised.
IBIT led the withdrawals at $233.7 million, followed by FBTC at $201 million and ARKB at $129.5 million. The funds had drawn a combined $440.8 million over the four sessions from Oct. 26 to Oct. 29, leaving the week with a net $202.4 million outflow.
Binance said its hot wallets were compromised at about 4:05 p.m. ET Oct. 29 (20:05 UTC), affecting approximately $6.3 billion in token assets. The Federal Bureau of Investigation (FBI) later attributed a theft of more than $6 billion from Binance to North Korea.
In an Oct. 30 update, Binance pledged to cover stolen funds through its Secure Asset Fund for Users and company funds, and said recovery efforts were continuing. The exchange also said users would not bear the financial impact.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.