Binance Absorbs $3.64B in Net Outflows as Withdrawals Stabilize After the $6.3B Hack

Binance processed $4.649 billion in withdrawals and $1.01 billion in deposits between 06:00 and 15:30 UTC on November 1, the first hours after it reopened customer withdrawals in phases following the $6.3 billion hack. Net outflows of about $3.64 billion equal 2.1% of the $171 billion in assets the exchange reported on its October 28 proof-of-reserves snapshot, according to Binance’s recovery update . Read one way, that is the heaviest single-day redemption test a major venue has absorbed since the 2022 FTX collapse.