Binance Withdrawals Resume After the $6.3 Billion Hack, With $3.64 Billion in Net Outflows Reported

By Kevin · 2026-11-02 · News

Nov. 2 (CandyPulse) — After the biggest hack in crypto history, the world's largest exchange has reopened its doors, and customers are walking out with billions. Binance restored withdrawals on Nov. 1 and reported $3.64 billion in net outflows in the first nine and a half hours.

Key takeaways

Attackers drained about $6.3 billion from Binance's hot wallets on Oct. 29, the largest crypto hack on record
Binance reopened withdrawals on Nov. 1 in phases; all assets on the first 15 networks were restored by 12:36 p.m. UTC
Binance processed $4.65 billion in withdrawals against $1.01 billion in deposits: $3.64 billion net out
That's about 2.1% of its $171 billion in total assets, based on its latest proof-of-reserves data
Binance says it has covered 95% of the stolen assets

The numbers

Metric	Figure
Stolen in the hack	~$6.3B (hot wallets, Oct. 29)
Withdrawals processed	$4.65B
Deposits	$1.01B
Net outflows	$3.64B (first ~9.5 hours)
Share of total assets	~2.1% of $171B
Stolen assets covered	95%, Binance says

Third-party trackers such as DefiLlama show larger outflows over a full 24 hours, with one report citing about $5.8 billion. Binance's $3.64 billion figure covers only its own reporting window.

Who was behind it

Federal investigators and blockchain analysts have linked the attack to TraderTraitor, a hacking unit tied to North Korea, according to one report. Binance hasn't detailed how the hot wallets were compromised.

Why it matters

Large withdrawals after a hack are normal: people want their coins under their own control while they wait for answers. The real test is whether Binance can keep paying out smoothly. So far, at about 2% of total assets, the outflows look manageable. The hack also shook the wider market, pushing Bitcoin to a six-week low before it rebounded toward $78,000.

What users should do

If you choose to withdraw, double-check addresses and start with a small test transaction
Watch out for fake "Binance support" messages; scammers exploit moments like this
Consider keeping long-term holdings in a wallet you control

What's next

Watch for Binance's full incident report, any recovery of stolen funds and whether outflows slow over the coming days. More on crypto news today.

Disclaimer: This article is for information only and is not financial advice. Crypto assets are volatile and can lose value. Always do your own research before making any investment decision.