Binance says withdrawals are back after the hack, with $3.64 billion net outflow and 90% of compromised funds restored

Binance says withdrawal volumes have started to normalize after last week’s hack, with $4.649 billion in withdrawals and $1.010 billion in deposits processed yesterday. For high-risk PSPs and crypto merchants, the relevant part is not the headline drama but the operating detail: funds are moving again, reserve disclosures are being updated, and the exchange is publicly absorbing the loss rather than pushing it onto users.

1. Binance said it had begun restoring withdrawal functionality gradually after a hack that exceeded $6.300 billion last week. In its latest update, the company said withdrawal volumes “have decreased and are stabilizing as expected,” while deposit volumes “have remained substantial.”
2. During yesterday’s session, Binance processed $4.649 billion in withdrawals and $1.010 billion in deposits, resulting in a net outflow of about $3.640 billion. The company said that figure equals 2.1% of the $171.000 billion in total assets it manages.
3. Binance also said it updated its Proof of Reserves, which will be available to clients on its website today. The company added that its team is still “rigorously testing the remaining networks and assets” and that it will share details of the next phase as soon as it can.
4. Withdrawals have been re-enabled in Bitcoin and major cryptocurrencies, including stablecoins such as USDT and USDC. Binance also added the ability to withdraw fiat deposits in dozens of conventional currencies, including dollars and Argentine pesos. The catch, for operators and users alike, is that availability on one network does not mean withdrawal is enabled on every compatible chain, so the network has to be checked before any transfer.
5. Binance said it will absorb the financial impact of the stolen funds and not its users. It also announced a 20 million USDC reward pool for users who did not withdraw their funds, with some eligible users to receive a 100 USDC bonus, plus a separate reward for users who trade more than $10.000.

Binance said it has already restored 90% of the compromised funds. For counterparties that care about concentration risk and settlement continuity, that is the number to watch: not the social-media noise around the incident, but how quickly the platform keeps normalizing withdrawals, reserve reporting, and user balances.