Binance's tracked assets rose $3.423 billion over two days once the exchange restarted withdrawals, based on data posted by crypto commentator Tuan Nguyen. His DefiLlama figures showed holdings of $128.87 billion on November 2, after more than $6.14 billion left within 24 hours, and $132.29 billion by November 4, a 2.6% gain. Nguyen suggested users had moved funds into personal wallets during the suspension and were now sending them back, and Binance co-founder Changpeng Zhao appeared to agree. The exchange had halted withdrawals after suspected North Korean group TraderTraitor stole $6.3 billion, and reopened services in phases from November 1. North Korea has denied involvement. Its spot trading share also dropped to 42%.
Why it matters: It shows how quickly users and assets can return to a major exchange after a large security breach, which matters for readers tracking platform trust and exchange competition.
Summary by Dextape, based on reporting by CryptoPotato. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.
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