Binance’s Spot Market Share Drops to 42% After $6.3B Hack as OKX Gains

Binance’s share of spot cryptocurrency trading across the top 10 exchanges fell to about 42% over the past seven days, its lowest weekly level in at least 12 weeks, after attackers took $6.3 billion from its hot wallets on October 29 and the exchange suspended withdrawals. The FBI blamed North Korea’s TraderTraitor group on October 31, while North Korea rejected the allegation on Tuesday; withdrawals reopened in phases on November 1. Net outflows since reopening reached $5.6 billion, about 3.5% of total assets, Binance said, and co-CEO Richard Teng said 95% of affected tokens had been replenished. OKX’s share rose to about 14% from about 11%, Coinbase’s to 9.6% from about 9%, and Kraken also gained.