Binance Reports $3.64 Billion in Outflows After Hack
Binance said customers withdrew more than they deposited after withdrawals resumed, while separate data showed larger outflows over 24 hours.
Key takeaways
- Binance reported $3.64 billion in net outflows during a defined withdrawal window on Nov. 1.
- DefiLlama data showed $5.8 billion in net outflows over the preceding 24 hours.
- Binance said it had covered around 95% of the amount affected by the hack.
Binance recorded $3.64 billion in net outflows after it began restoring withdrawals on Sunday following a $6.3 billion hack. The exchange said it 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.
Separate DefiLlama data showed $5.8 billion in net outflows over the preceding 24 hours. Binance said withdrawal volumes had slowed and were stabilizing after an initial surge, while deposits remained substantial.
By 12:36 p.m. UTC, Binance had restored withdrawals for assets across 15 networks, with further networks and assets still being tested. The exchange said it had covered around 95% of the affected amount, with less liquid tokens making up the remaining 5%.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
