THE BLOCK · 2026-11-01 16:32 UTC

Binance sees $3.64 billion in net outflows after reopening withdrawals following record hack

Binance processed $4.65 billion in withdrawals and $1.01 billion in deposits in the first 9.5 hours after reopening on Sunday, resulting in $3.64 billion net outflows (2.1% of its $171 billion in assets). The outflows follow Thursday's $6.3 billion hack attributed to North Korea's TraderTraitor group, the largest crypto hack on record. Withdrawal volumes have stabilized after an initial spike; Binance plans to release an updated proof-of-reserves report on Monday and co-CEO Richard Teng said the exchange has replenished 90% of stolen assets.

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