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Magyar1 Nov 2026
Binance processed $4.65 billion in withdrawals and $1.01 billion in deposits in the first nine and a half hours after reopening withdrawals, a net outflow of about $3.64 billion, or 2.1% of its assets. OKX led inflows among rival exchanges.
Exchanges TradeReviewed News Desk
Binance net outflows reached about $3.64 billion in the first nine and a half hours after the exchange began restoring withdrawals on Sunday, Nov. 1, according to figures Binance shared on X and reported by The Block. It is the first hard look at how users reacted once they could move funds again after Thursday’s $6.3 billion hack, the largest crypto theft on record.
$4.65 billion out, $1.01 billion in
Between 1 a.m. and 10:30 a.m. ET, Binance processed $4.65 billion in withdrawals and $1.01 billion in deposits. The exchange put the net outflow at 2.1% of its $171 billion in assets, based on its Oct. 28 proof-of-reserves data. Binance said withdrawal volumes declined after an initial spike and are “stabilising as expected”, while deposits “have remained substantial”.
The reopening is still partial. Binance restored the 15 networks and assets in its first phase by 7:36 a.m. ET, as we covered in our report on the phased withdrawal restart. Its status page later showed withdrawals suspended for 531 of 552 listed coins, with 14 others, including bitcoin and ether, partly restored. Networks still in testing include Cardano, Chainlink, Hyperliquid, Litecoin and NEAR.
Where the money went
DefiLlama data showed $4.05 billion in net outflows from Binance over 24 hours. The next 10 largest exchanges it tracks took in about $368 million combined, led by OKX at $316.8 million. Bitfinex and Gate saw net outflows of $106.3 million and $34.5 million. CoinGlass data showed Binance’s bitcoin balance fell by about 19,289 BTC in 24 hours, while Coinbase and Kraken gained about 984 BTC and 1,422 BTC.
The gap between Binance’s outflows and rivals’ inflows suggests much of the money moved to self-custody wallets rather than to other exchanges. Our earlier look at exchange reserves after the hack showed a similar pattern.
What to watch next
- Proof of reserves on Monday: Binance says a new zero-knowledge reserves report based on an Oct. 31 snapshot should be released Monday. Co-CEO Richard Teng said on Saturday that 90% of stolen assets had been replenished (our update).
- Remaining networks: users holding coins on networks still in testing cannot withdraw yet.
- Diversify custody: keeping all funds on one platform concentrates risk. Our exchange comparison lists security, proof of reserves and fees, including our top picks BingX and OKX.
This is not financial advice.
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