Binance records more than $6 billion in outflows after reopening withdrawals, less than 4% of reported holdings

Binance saw more than $6 billion in token outflows in the 24 hours after it reopened withdrawals following last week’s record hack. For high-risk operators and their PSPs, the useful bit is not the headline number itself, but the speed at which liquidity moves once users can actually get paid.

1. DefiLlama tracked the outflows across wallets associated with Binance and put them at roughly 3.6% of the $171 billion in assets Binance reported holding before the attack. The caveat matters: the data is based on publicly visible wallet movements, so it can include transfers between wallets controlled by the exchange, not just customer withdrawals.
2. Even after the withdrawals, DefiLlama still tracked approximately $129 billion in Binance-linked cryptocurrency wallets. That figure is not the same as Binance’s own reserves reporting, because the coverage and asset calculations differ.
3. The withdrawals followed a roughly 45-hour suspension after an October 29 attack in which hackers stole approximately $6.3 billion in cryptocurrency. Binance began restoring withdrawals at 06:00 UTC on Sunday, November 1, and by 12:36 UTC all 15 networks and assets in the initial reopening phase were available, including bitcoin, ether, solana, XRP and major stablecoins.
4. In the first nine and a half hours, Binance said it processed $4.649 billion in withdrawals against $1.01 billion in deposits, leaving $3.64 billion in net outflows. The company said withdrawal demand surged immediately after reopening and then fell back, while deposits remained substantial.
5. The flows were visible at rival exchanges too: OKX recorded approximately $450 million in net inflows, while Bybit received around $134 million. Binance also said on November 1 that it had replenished approximately 95% of the assets affected by the hack, with the remainder mostly in less liquid tokens that take longer to acquire.