KHALEEJ TIMES · 2026-11-02 06:16 UTC

Binance sees outflows stabilising as exchange returns online after $6.3 billion heist

Binance resumed operations after a $6.3 billion security breach, with customers withdrawing $3.64 billion (2.1% of assets) but outflows stabilizing. The exchange covered 95% of stolen assets by purchasing replacement tokens; Bitcoin recovered to above $78,000 and Ether to $2,287 after initial declines. Stablecoin market caps dropped $1.2 billion and spot Bitcoin ETFs saw $643 million in outflows, raising concerns about institutional trust in crypto exchanges.

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