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Binance sees $3.64 billion in net outflows as withdrawals resume after massive hack

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⚡ Instant Key Takeaways (TL;DR)
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Core Development: Binance sees $3.64 billion in net outflows as withdrawals resume after massive hack
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Market & Financial Impact: Binance recorded $3.64 billion in net outflows after resuming withdrawals following a $6.3 billion hack, representing 2.1% of its total assets.
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Actionable Insight: Monitor price volume action at market open; check key technical support/resistance levels.

Binance said it recorded $3.64 billion in net outflows after reopening withdrawals on Sunday following a $6.3 billion hack, as customers rushed to move funds off the platform.

The exchange 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, Binance said in a post on X.

The resulting net outflows represented 2.1% of Binance's $171 billion in total assets, based on its latest available proof-of-reserves data as of Oct. 28.

Binance said withdrawal volumes had declined and were stabilizing following an initial spike, while deposit volumes remained substantial.

The exchange began restoring withdrawals in phases at 6 a.m. UTC on Sunday, with services resuming across all 15 networks and assets included in the initial phase by 12:36 p.m. UTC. It said testing was continuing for the remaining networks and assets.

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Official Publisher Attribution: This report is aggregated from CNBC. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.
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