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Binance Puts Net Outflow at 2.1% of Its $171 Billion in Assets as Withdrawals Restart
Deposits brought back about 22 cents for every dollar withdrawn as the exchange restarted withdrawals, and Binance says it has now made up about 95% of the hack losses.
Dextape brief
Binance reported that between 06:00 and 15:30 UTC on November 1 it handled $4.649 billion of outgoing withdrawals against $1.01 billion of incoming deposits, a net outflow of $3.64 billion. The company framed that gap as 2.1% of the $171 billion it manages, using proof-of-reserves figures taken on October 28, the day before a hot-wallet drain began. Founder Changpeng Zhao posted on X that 98% of users chose to stay. Withdrawals resumed in phases, and by 12:36 UTC all 15 networks in the first group were operating. Binance says withdrawal volume has leveled off after an early surge while deposits remain strong. Its recovery update says it has covered roughly 95% of the estimated $6.3 billion hit, with the remainder in less liquid tokens. A new proof-of-reserves report is expected November 2.
Why it matters: It shows how a large exchange is handling withdrawals, deposits and reserve checks after a major hot-wallet loss, which bears on how users judge custody safety.
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