# Binance deposits overtake withdrawals, signaling possible easing of hack fallout

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/insights/47916
Published: 2026-11-03T18:40:45.000Z
Updated: 2026-11-03T18:40:45.000Z
Section: Insights & Views

> Binance deposits have overtaken withdrawals after heavy outflows. Scott Melker said the shift may signal easing pressure, while further hacks raised security and decentralization concerns.

Deposits have again overtaken withdrawals at Binance after a major hack triggered heavy outflows, suggesting the immediate pressure may be easing. Further exchange breaches and efforts to freeze stolen funds, however, have raised questions about crypto security and decentralization.

Speaking on Yahoo Finance’s The Daily Wolf on November 3, crypto commentator Scott Melker said the return to net deposits could indicate that the worst of the Binance withdrawals had passed.

Citing Binance figures, Melker said withdrawals totaled $10.97 billion over 46 hours, while deposits reached $5.7 billion. Cumulative net outflows stood at approximately $5.28 billion. He highlighted the substantial inflows alongside the withdrawals, pointing to the subsequent deposit surplus as a possible sign of stabilization.

Binance said it had completed verification of its October 31 reserve snapshot covering 10 tokens, with covered balances backed at least one for one at that point. Melker said approximately 95% of affected assets had been replenished, including through purchases of some altcoins in over-the-counter markets. He noted that those purchases had not produced a rise in prices.

Binance’s SAFU emergency fund remained another issue to address. Melker said its balance had fallen below the level Binance had described as appropriate. The exchange had not announced how it would replenish the fund, though he expected an update soon.

Melker also discussed a breach at Brazilian exchange Mercado Bitcoin involving approximately $38 million to $40 million. The exchange suspended deposits and withdrawals after wallets across at least 10 blockchains were drained. He said the details of how the breach occurred remained unclear and questioned why exchange security still allowed losses of that scale.

Mercado Bitcoin said approximately $11 million had been blocked with industry partners. Chainalysis said it helped coordinate freezes with law enforcement and stablecoin issuers. Melker welcomed efforts to recover and freeze stolen assets but said the ability of issuers to freeze funds raised questions about decentralization. He also distinguished breaches of exchanges and custodians from the security of Bitcoin itself.