Reserve

Arbitrum

<h2 id="b-tldr-b">TLDR:</h2>
<ul>
 <li style="font-weight: 400">Binance processed $4.649B in withdrawals and $1.01B in deposits within a nine-and-a-half-hour window.</li>
 <li style="font-weight: 400">Net outflows reached $3.64B, representing 2.1% of Binance’s stated $171B in assets under management.</li>
 <li style="font-weight: 400">Withdrawal volumes peaked after transfers resumed across 15 networks, then eased in 30-minute chart intervals.</li>
 <li style="font-weight: 400">Binance reported freezing about $3B in stolen assets, while its October 31 reserve snapshot predated outflows.</li>
</ul>
Binance recorded $4.649 billion in withdrawals on November 1 as customers regained access to transfers following a reported $6.3 billion theft. Deposits totaled $1.01 billion between 06:00 and 15:30 UTC, leaving approximately $3.64 billion in <a href="https://blockonomi.com/u-s-spot-bitcoin-ethereum-etfs-post-net-outflows-as-institutional-demand-cools/" rel="noopener noreferrer nofollow">net outflows</a>.
The net withdrawals equaled 2.1% of the exchange’s stated $171 billion in assets under management. Although demand surged immediately after transfers resumed, transaction data showed smaller withdrawal volumes later in the reporting window.
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 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 stabilising as expected, while deposit… <a href="https://t.co/ZSnYGCTp9d" rel="noopener noreferrer nofollow">pic.twitter.com/ZSnYGCTp9d</a>
 — Binance (@binance) <a href="https://x.com/binance/status/2116926305254133892?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 1, 2026</a>
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The figures captured a significant movement of customer funds without showing an uninterrupted acceleration in withdrawals. Deposits continued during the same period, but they were insufficient to offset the funds leaving the platform. The reporting window spanned nine and a half hours rather than a full day.
<h2 id="b-withdrawal-rush-eases-as-more-networks-resume-transfers-b">Withdrawal Rush Eases as More Networks Resume Transfers</h2>
<a href="https://www.binance.com/en-GB/support/announcement/security-incident-recovery-update-4-withdrawals-resume-in-phases-2026-11-01-73911fb819b240f88b88256bdd318eda" rel="noopener noreferrer nofollow">Binance began restoring withdrawal services</a> across 15 blockchain networks on Sunday, including Bitcoin, Ethereum, Solana, Tron, <a href="https://coincentral.com/bnb-chain-bnb-price-blockworks-ranks-network-first-in-tokenized-stocks-for-q3/" rel="noopener noreferrer nofollow">BNB Smart Chain</a>, and XRP Ledger. Arbitrum was also among the supported networks returning to service.
The reopening proceeded in stages rather than across every network at once. Customer demand influenced which assets received priority, while operational and security checks determined when transfers could resume.
A chart tracking activity in 30-minute intervals showed the strongest withdrawal volumes near the beginning of the reopening. Later intervals registered progressively smaller amounts, even as deposits remained below withdrawals.
Reuters separately cited DefiLlama figures showing more than $3.5 billion in Sunday net outflows. That independent measure broadly matched the $3.64 billion figure disclosed by <a href="https://blockonomi.com/binance-hacker-dumps-96m-in-solana-for-bitcoin-did-it-trigger-sols-drop/" rel="noopener noreferrer nofollow">Binance</a> for its reporting period.
Some customers could still encounter delays as remaining services returned. The exchange described conditions as stabilizing, although the outflow totals showed that withdrawals continued to exceed incoming transfers.
<h2 id="b-hack-response-freezes-3b-as-reserve-verification-remains-pending-b">Hack Response Freezes $3B as Reserve Verification Remains Pending</h2>
The withdrawals followed an October 29 hot-wallet breach. In an October 30 update, Binance said a compromised engineer’s laptop may have enabled unauthorized transactions through a service container.
Investigators had not identified leaked private keys. The <a href="https://parameter.io/north-koreas-tradertraitor-unit-behind-record-6-3b-binance-breach-investigators-say/" rel="noopener noreferrer nofollow">FBI attributed the attack to North Korea’s TraderTraitor</a> operation and warned that decentralized finance services could facilitate laundering.
Binance reported freezing approximately $3 billion in stolen assets with partners. It also said company resources replenished about 95% of affected token balances, separate from asset recovery.
A <a href="https://moneycheck.com/bitcoins-biggest-corporate-holder-says-proof-of-reserves-are-actually-dangerous/" rel="noopener noreferrer nofollow">Proof of Reserves</a> snapshot taken October 31 showed ten major assets fully backed, according to Binance. However, that snapshot preceded Sunday’s withdrawals and did not measure subsequent reserve changes.
The accompanying zero-knowledge proof was still being calculated, with publication expected November 3. Binance pledged to cover losses itself as withdrawal operations and reserve verification continued.
The post <a href="https://blockonomi.com/binance-withdrawals-hit-4-65b-as-net-outflows-reach-3-64b-after-hack/" rel="noopener noreferrer nofollow">Binance Withdrawals Hit $4.65B as Net Outflows Reach $3.64B After Hack</a> appeared first on <a href="https://blockonomi.com" rel="noopener noreferrer nofollow">Blockonomi</a>.

Binance Withdrawals Hit $4.65B as Net Outflows Reach $3.64B After Hack

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