Add as a preferred source on GoogleBinance Saw $5.3 Billion in Net Outflows Over 46 Hours
Withdrawals totaled $10.97 billion after services resumed following the Oct. 29 security incident. Changpeng Zhao said 6% to 10% went to rival exchanges.
Binance recorded nearly $11 billion in withdrawals over a 46-hour period after reopening services following its Oct. 29 security incident, leaving the exchange with about $5.3 billion in net outflows.
From 1 a.m. ET Nov. 1 (06:00 UTC) through 11 p.m. ET Nov. 2 (04:00 UTC Nov. 3), withdrawals totaled $10.97 billion and deposits reached $5.695 billion. Binance's net-outflow figure for the period was $5.276 billion, or about $5.3 billion.
Hourly deposits exceeded withdrawals by 10 p.m. ET Nov. 2 (03:00 UTC Nov. 3). The shift came before the end of the 46-hour measurement window.
Binance co-founder Changpeng Zhao said 6% to 10% of withdrawals went to other centralized exchanges. The estimate addresses transfers to rival exchanges, not the destination of every withdrawal.
Binance resumed withdrawals in phases on Nov. 1 while keeping deposits open. The exchange put the digital assets affected by the Oct. 29 incident at about $6.34 billion.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.