Binance Posts $5.8B Net Outflows After Reopening Withdrawals

Binance recorded $5.8 billion in net outflows over the past 24 hours after the exchange resumed withdrawal services following a record $6.3 billion hack, the largest crypto theft on record. The figure comes from DefiLlama data, according to a November 1, 2026 report from Cointelegraph.

The outflows mark an early test of customer confidence after the hack rattled the crypto market. Binance itself reported a somewhat different figure, claiming net outflows of only $3.64 billion, equal to 2.1% of its roughly $171 billion in total customer assets, according to The Block.

Timeline of the withdrawal reopening

Binance began restoring withdrawal services at 6:00 UTC on Sunday. Within hours of reopening, withdrawal volumes spiked sharply. By 3:30 UTC, Binance reported it had processed $4.6 billion in withdrawals against $1 billion in deposits, resulting in net outflows of $3.6 billion for that window.

Binance said the initial surge in withdrawals has since slowed and flows are stabilizing. The exchange stressed that the outflows represent only a small fraction of the roughly $171 billion in assets it holds. Cointelegraph reached out to Binance for further comment but had not received a response at publication time.

Separately, DefiLlama data showed a larger net outflow figure of $5.8 billion over the 24 hours preceding Binance's initial update. The difference in measurement windows likely explains why the two sources produced figures that do not match exactly.

Networks and assets now open

Binance's latest update, posted at 12:36 UTC, shows withdrawals have been enabled for tokens across 15 networks, including Bitcoin, Ethereum, BNB Smart Chain, and XRP Ledger. The exchange said it will continue restoring additional assets and networks in phases.

Early data shared by Binance shows the largest share of withdrawals came in USDT, followed by USDC, then Bitcoin. That pattern makes sense, since stablecoins are typically the first choice for customers looking to exit an exchange quickly during a security scare, given their relatively stable value compared to more volatile crypto assets.

Binance says it has replaced 90% of lost funds

On Saturday, Binance announced it had already replaced 90% of the funds lost in the $6.3 billion hack. The replacement funds came from three sources: Binance's corporate treasury, its Secure Asset Fund for Users (SAFU), and its futures insurance fund.

SAFU is a reserve fund Binance maintains to cover customer losses in extraordinary events like hacks. The 90% replacement claim is likely one reason Binance felt confident reopening withdrawal services so soon after the incident.

Context: the largest crypto theft on record

The $6.3 billion hack that hit Binance is recorded as the largest crypto theft in history. The sheer scale of the breach means every movement of funds during the recovery period is drawing close market attention, since it reflects how much confidence customers still have in keeping assets on the exchange.

Outflow spikes are common after major security incidents, even at large exchanges. But a figure as large as $5.8 billion in such a short window reflects real concern, even as Binance repeatedly stresses the amount is small relative to the $171 billion in total assets it manages.

What it means for traders

Traders holding funds on Binance should watch a few concrete signals over the coming days. First, whether net outflows keep shrinking as Binance claims, or spike again as more networks and assets get opened for withdrawal.

Second, watch for the schedule of additional network rollouts beyond the current 15, since that could trigger fresh waves of withdrawals from holders of assets that haven't been accessible yet. Third, keep an eye out for any official update on the remaining 10% of funds not yet replaced from the $6.3 billion total loss.

Bitcoin itself traded around $78,350 as this story circulated, according to Cointelegraph data, relatively steady despite the Binance concerns. Traders with positions on the exchange should check the specific withdrawal status for the assets they hold, since the recovery process is still rolling out network by network.