GoKawiilBinance sees $3.64B net outflows after reopening withdrawals post-hack
Binance reopened withdrawals in phases starting Sunday after a $6.3 billion security breach, and reported $4.65 billion in withdrawals against $1.01 billion in deposits, resulting in $3.64 billion in net outflows. The exchange said this represented about 2.1% of its roughly $171 billion in total assets and that withdrawal volumes were stabilizing after an initial spike. Founder Changpeng Zhao said '98% choose to stay,' noting most outflows occurred within the first couple hours of withdrawals resuming.
GoKawiil's interpretation of the reporting above, not reported fact.
The scale of outflows suggests a meaningful but not catastrophic loss of confidence following the breach, with Zhao's framing aimed at reassuring remaining users and markets. Binance's emphasis on reserve replenishment and declining outflow rates could be an attempt to project stability and limit further withdrawal pressure. The episode may prompt renewed scrutiny of exchange security practices and user trust in centralized crypto platforms.
- Binance recorded $3.64 billion in net outflows after reopening withdrawals following a $6.3 billion hack.
- The exchange says it has restored 90% of stolen assets and that withdrawal volumes are stabilizing.
- CZ claims 98% of users chose to stay, with most outflows concentrated in the first hours after reopening.
Source: news.slashdot.org — Posted, 2026-11-02
Published there as: “Binance Reopens to $3.64 in Net Outflows. '98% Choose to Stay', Says Its Founder”
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