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

Dextape brief

By Dextape Desk · November 4, 2026

Binance's portion of spot crypto trading among the ten largest exchanges slid to roughly 42% over the last week, its lowest level in a minimum of 12 weeks, according to Kaiko data that Bloomberg cited on Tuesday. OKX gained most, rising to about 14% from roughly 11%, while Coinbase and Kraken also expanded. Attackers pulled $6.3 billion from Binance's hot storage on October 29, prompting a withdrawal halt. The FBI attributed the theft to North Korea's TraderTraitor group, and Elliptic said its analysis backs that finding; North Korea denied the allegation. Withdrawals resumed in stages from November 1, and Binance reported $5.6 billion in net outflows since then, about 3.5% of assets.

Why it matters: The exchange's loss of share after a major breach shows how a security incident can shift competitive positions across crypto trading platforms.

Mentioned: Coinbase, Kraken (Payward), Binance, OKX

Summary by Dextape, based on reporting by CryptoPotato. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.