Binance said it saw 3,64 billion dollars in net outflows in the first 9,5 hours after reopening withdrawals, adding that withdrawal volumes declined after the initial rush.
Billions of dollars moved from Binance after access was restored at the exchange, which had suspended withdrawals following an attack involving approximately 6,3 billion dollars. According to exchange data reported by The Block, between 01.00 and 10.30 US Eastern Time on Sunday, November 1, 4,65 billion dollars was withdrawn, while 1,01 billion dollars was deposited into the exchange.
The difference, a net outflow of 3,64 billion dollars, amounts to approximately 2,1 percent of Binance’s total assets of 171 billion dollars, based on the exchange’s reserve data dated October 28. The exchange said withdrawal volumes declined after the initial rush and began to stabilize as expected, while deposit volumes remained high.
Withdrawals reopened, but not for all coins
Binance, where we previously reported that Bitcoin withdrawals had resumed, made all 15 networks and assets in the initial phase available by 07.36 US Eastern Time. Testing was still underway for other networks and assets, including Cardano, Chainlink, Hyperliquid, Litecoin, and NEAR.
On the status page at 11.22 the same day, withdrawals were suspended for 531 of the 552 coins listed. Withdrawals were partially available for 14 coins, including Bitcoin and Ether. As a result, whether users could withdraw depended on the coin and network they selected.
Independent data also shows billions in outflows
DefiLlama recorded 4,05 billion dollars in net outflows from Binance wallets over the 24-hour period ending at 11.14 US Eastern Time. Total assets in the wallets tracked by the platform stood at 131,1 billion dollars. This measurement differs from the first 9,5 hours of data reported by Binance in both the time period covered and the scope of assets tracked.
Over the same 24 hours, OKX saw 316,8 million dollars in net inflows. The data shows the scale of the movement of funds following the resumption of withdrawals at Binance.
New wallets are being used; reserve report awaited
Binance is now processing withdrawals from newly created wallets that it has added to its proof-of-reserves list. The exchange plans to publish an updated reserve report on Monday, November 2, based on October 31 data and calculated using zero-knowledge proofs.
The FBI attributed Thursday’s attack to the North Korea-linked TraderTraitor group. Binance co-CEO Richard Teng said on Saturday that 90 percent of the stolen assets had been replaced and that the remainder would also be covered. The exchange said it had set aside 6,34 billion dollars to cover the losses.
Not investment advice.