Binance (BNB) Sees $3.64B Net Outflows as Withdrawals Reopen

By Nodora News · 2 November 2026

Binance (BNB) saw $3.64B in net outflows in the first hours after reopening withdrawals post-hack, about 2.1% of its $171B in user assets, the exchange says.

Binance, the world's largest crypto exchange and the company behind BNB (BNB), says customers pulled a net $3.64 billion off the platform in the first nine and a half hours after withdrawals reopened on Sunday, November 1. The figure is the first official tally since a record $6.3 billion hack froze withdrawals last week, and Binance says it equals about 2.1% of the $171 billion it holds for users.

Key takeaways

• Binance processed about $4.65 billion in withdrawals and $1.01 billion in deposits between 06:00 and 15:30 UTC on November 1, a net outflow of roughly $3.64 billion.
• The exchange puts that at 2.1% of its $171 billion in user assets, based on its October 28 proof-of-reserves snapshot.
• Binance says withdrawal volumes have already fallen back and are "stabilising", while deposits stay strong.
• On-chain tracker DefiLlama counted about $4.05 billion in net outflows over 24 hours, while OKX led rival exchanges with about $317 million in net inflows.
• An updated proof-of-reserves report is due on Monday, November 2, and the remaining networks and tokens will reopen in a later phase.

What happened when Binance reopened withdrawals

Binance began restoring withdrawals in phases at 06:00 UTC on Sunday, three days after attackers drained about $6.3 billion from its hot wallets in the largest crypto theft on record. By 12:36 UTC, all 15 networks and assets in the first phase were live again, including Bitcoin, Ethereum, BNB Smart Chain, Solana, XRP and Tron.

In a post on X later that day, Binance shared the first hard numbers. Customers withdrew about $4.65 billion during the window and deposited about $1.01 billion, leaving a net outflow of roughly $3.64 billion. Withdrawals are now paid from newly generated wallets that Binance has added to its proof-of-reserves list, replacing the wallets compromised in the attack.

The early hours were the busiest. As Nodora reported on Sunday, about $2 billion in BTC and stablecoins left Binance in the first three hours, according to Whale Alert. Binance says the pace has since slowed.

The numbers behind the $3.64 billion outflow

Here is how the first day breaks down, based on Binance's own figures and third-party data:

• Withdrawals: about $4.65 billion (06:00 to 15:30 UTC)
• Deposits: about $1.01 billion over the same window
• Net outflow: about $3.64 billion, or 2.1% of $171 billion in user assets
• DefiLlama 24-hour view: about $4.05 billion in net outflows, measured across the roughly $131 billion of Binance wallets the site tracks
• Rival exchanges: the next 10 largest exchanges tracked by DefiLlama took in about $368 million combined, with OKX the biggest gainer at about $317 million

The gap between Binance's figure and DefiLlama's comes down to timing and coverage. Binance reported a fixed nine-and-a-half-hour window, while DefiLlama measures a rolling 24 hours and only sees wallets it has labelled.

Why the outflow figure matters

After a hack this large, the big fear is a bank run: users rushing for the exits at the same time and testing whether an exchange really holds what it owes. A net outflow of 2.1% of assets on reopening day is large in dollar terms, but it is a small share of the whole balance sheet.

That matters because Binance said last week it had already replenished most of the stolen funds. It first said it had set aside $6.34 billion to cover the losses, and by Saturday said about 95% had been replaced, with the rest, mostly low-liquidity tokens, to follow. You can read the background in our report on how Binance restarted withdrawals in phases.

Binance says deposits "have remained substantial", meaning money was still coming in while it went out. The FBI has attributed the theft to North Korea's TraderTraitor hacking group, and token issuers have frozen part of the stolen funds, but recovering the bulk of it is expected to take far longer.

Market reaction: BNB and Bitcoin hold steady

Prices barely moved on the outflow news. On OKX at the time of writing:

• BNB: about $711.50, up roughly 0.6% in 24 hours
• Bitcoin (BTC): about $78,040, up roughly 0.4%
• Ethereum (ETH): about $2,267, up roughly 0.5%

The calm is notable given the pressure elsewhere. US spot Bitcoin ETFs saw about $643 million in net outflows on Friday, October 30, their first full session after the hack. Crypto prices have since steadied, and BNB is trading slightly above the roughly $706 it fetched when withdrawals reopened. You can follow live prices on Nodora Charts.

What to watch next

• Proof-of-reserves report: Binance took a new snapshot on October 31 and says an updated report, built with zero-knowledge proofs, is due on Monday, November 2. It should show whether reserves still cover customer balances after the hack and the first wave of withdrawals.
• Phase two of withdrawals: the remaining networks and tokens are still being tested, and Binance says it will announce the next phase soon.
• Exchange flows: whether net outflows keep shrinking over the coming days, or pick up again once more assets reopen, will be the clearest signal of user confidence.
• The stolen funds: any movement of the hacker's wallets, freezes, or recoveries could move sentiment around BNB and the wider market.

This article is for information only and is not financial advice.

#BNB #Binance #Bitcoin #Exchange outflows #Crypto hack

This article is general information, not financial advice.