Binance reported net outflows of $3.64 billion after reopening withdrawals on Sunday, following a record $6.3 billion hack last week, as customers moved funds off the platform.
Binance said in a post on X:
“Binance began restoring withdrawals in phases at 06:00 UTC on November 1, 2026. By 12:36 UTC, withdrawals had resumed for all 15 networks and assets in the initial phase. After an initial spike, withdrawal volumes have declined and are stabilizing as expected, while deposit volumes have remained substantial.”
“Between 06:00 and 15:30 UTC on November 1, we processed $4.649 billion in withdrawals and $1.01 billion in deposits, resulting in a net outflow of approximately $3.64 billion. This represents 2.1% of our $171 billion in total assets under management (AUM), based on the latest available Proof of Reserves (PoR) data as of October 28, 2026. A new PoR snapshot was taken at 00:00 UTC on October 31, and zero-knowledge proof (ZKP) computation began. The updated report is expected to be available on our PoR website tomorrow. Our team continues testing rigorously the remaining networks and assets. We know how important safe and reliable access to your funds is and will share details of the next phase as soon as we can. Rest assured that market conditions are stable.”
Binance said withdrawal volumes had declined and were stabilizing following an initial spike, while deposit volumes remained substantial.
The updated figure follows a Friday post from Circle CEO Jeremy Allaire: “Circle is closely tracking reports of a potential exploit involving Binance. In coordination with law enforcement, we have frozen more than 800M USDC associated with the incident and will continue supporting the investigation.”
Following the withdrawls, Binance founder and former CEO Changpeng Zhao wrote:
“12 hours after withdrawals resumed: 2.1% net outflow, with most occurring in the first couple of hours. Over $1 billion in flow, too. 98% choose to stay!”
“Trust isn’t earned by what you say in good times. It’s earned by what you do in hard times. Thank you for your trust”
The withdrawals followed a record-breaking $6.3 billion hack of Binance last week attributed to North Korean hackers.
By CEO NA Editorial Staff
