Binance Records $3.64 Billion in Net Outflows After Reopening Withdrawals

Binance recorded $3.64 billion in net outflows on Nov. 1 after reopening withdrawals, a movement equal to 2.1% of its total assets following a $6.3 billion hack.

Customers withdrew $4.65 billion and deposited $1.01 billion between 1 and 10:30 a.m. ET (06:00–15:30 UTC), leaving withdrawals $3.64 billion above deposits. The net outflow represented 2.1% of Binance’s $171 billion in assets, using proof-of-reserves figures dated Oct. 28.

Withdrawals returned in stages Sunday. By 7:36 a.m. ET (12:36 UTC), service was restored across all 15 networks and assets included in the first phase; testing continued for the remaining networks and assets.

Binance described withdrawal volumes as easing after an initial surge, while deposits remained substantial. Changpeng Zhao, Binance’s founder and former CEO, said most outflows came in the first few hours after access reopened.

Binance said it had covered about 95% of the amount affected by the hack. The remaining 5% consisted of less-liquid tokens that would take longer to obtain in the required quantities.