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> So far, the exchange had reported several details regarding the breach, including the theft of up to 7,000 BTC ($40 million) that were withdrawn in a single transaction.

I am confused by this statement. Was the money withdrawn to a bank account or withdrawn to another address from the Binance wallet?

The latter. The hackers got access to one or more Binance hot wallets and transferred 7k BTC to their own bitcoin address.