Binance Reopens to $3.64 in Net Outflows. ‘98% Choose to Stay’, Says Its Founder

Binance now says it’s replenished 90% of assets stolen last week in a $6.3 billion security breach, its customers still “rushed to move funds off the platform” when it reopened Sunday, CNBC reports, and Binance “said it recorded $3.64 billion in net outflows after reopening withdrawals on Sunday.”

The exchange processed $4.65 billion in withdrawals and $1.01 billion in deposits between 6 a.m. and 3:30 p.m. UTC on Nov. 1, Binance said in a post on X. The resulting net outflows represented 2.1% of Binance’s $171 billion in total assets, based on its latest available proof-of-reserves data as of Oct. 28. Binance said withdrawal volumes had declined and were stabilizing following an initial spike, while deposit volumes remained substantial.
The exchange began restoring withdrawals in phases at 6 a.m. UTC on Sunday, with services resuming across all 15 networks and assets included in the initial phase by 12:36 p.m. UTC. It said testing was continuing for the remaining networks and assets.

Binance founder and former CEO Changpeng Zhao sought to reassure users following the breach, writing on X that “98% choose to stay!” He said most of the net outflows occurred within the first couple of hours after withdrawals resumed.

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