Binance Reports $3.64 Billion in Net Outflows on First Day of Withdrawal Reopening, Says Flows Are Stabilising

Published November 1, 2026, 9:45 PM PKT. Based on Binance's November 1, 2026 post on X as reported by Devdiscourse, a Reuters report carried by Euronext, Insurance Journal, CryptoBriefing and Cyprus Inform. This is a follow-up to MABOnChain's November 1 articles on withdrawals going live and on the hacker's laundering wave: where those articles covered customer access and stolen funds on the move, this article covers what customers did with the reopened exits on day one.

Binance recorded net outflows of about $3.64 billion in the first nine and a half hours after withdrawals resumed on November 1, 2026, the exchange said in a post on X, and said the flow is already stabilising. The figure covers 0600 to 1530 GMT on November 1, the day Binance reopened Phase One withdrawals after the October 29 theft of about $6.3 billion from its hot wallets, an attack the FBI said on October 31 was carried out by North Korea's TraderTraitor group. The outflow equals 2.1 percent of Binance's $171 billion in assets under management, according to the exchange's own post, a scale that puts the first-day rush in proportion: large in absolute dollars, small against the balance sheet Binance says it holds.

The $3.64 billion figure: $4.64 billion out, $1.01 billion in

Binance's post breaks the net figure into its two sides. The exchange said it processed over $4.64 billion in withdrawals and $1.01 billion in deposits between 0600 and 1530 GMT on November 1, Devdiscourse reported, which nets to the about $3.64 billion outflow. The post stressed that withdrawal volumes have declined and are stabilising as expected, while deposit volumes have remained substantial, in the exchange's own words: "withdrawal volumes have declined and are stabilising as expected, while deposit volumes have remained substantial." The window matters for reading the number. It starts at the Phase One reopening, which began between 0600 and 0900 GMT with bitcoin first, then Ethereum and BNB Smart Chain stablecoin routes, across 15 networks in total, as MABOnChain reported earlier on November 1. It ends at 1530 GMT, mid-afternoon in London and early evening in Pakistan, so it captures the initial rush and the first hours of its fade, not a full day. Binance has not yet published a full-day total, and later windows could still move the figure in either direction.

Binance says the spike is fading toward normal activity

A Binance spokesperson gave Reuters the same message in an emailed statement before the X post's figures landed. "Withdrawal volumes spiked at the beginning, however we are seeing a sharp downward trend and withdrawal levels are stabilising to what we would consider normal and expected on-chain activity," the spokesperson said, according to Reuters. The spokesperson added that the withdrawals represented a very small percentage of assets under management, a line consistent with the 2.1 percent figure in the later X post. Cyprus Inform's report of the same statement adds two further details: the spokesperson said deposits were also significant and promised further updates, and closed with the assurance that market conditions are stable. Co-CEO Yi He added a caveat on X that readers should hold alongside the headline, Insurance Journal reported: some of the transfers counted in outflow data are between Binance wallets, not customer exits, so gross flow figures overstate money leaving the exchange for good. That caveat applies to every dashboard reading in this article, not just to Binance's own post.

DefiLlama's $3.5 billion reading matches, with a caveat

Independent data points in the same direction, at a similar scale, with different methods. Crypto analytics platform DefiLlama reported on its dashboard that Binance saw net outflows of more than $3.5 billion on Sunday, Reuters reported, and Binance did not comment on the DefiLlama data. CryptoBriefing, citing research findings, reported that users pulled nearly $3.8 billion off Binance in roughly 10 hours after the reopening, a gross withdrawals figure rather than a net one, which is why it sits above the net readings. The three numbers, $3.5 billion net on DefiLlama, $3.64 billion net in Binance's own 0600 to 1530 GMT window, and nearly $3.8 billion gross over about 10 hours, describe the same first-day rush through different windows and methods, and they agree on the order of magnitude. None of them, on its own, proves how much money permanently left Binance, because Yi He's inter-wallet caveat and the deposits side of the ledger both cut against reading gross outflows as lost customers. What the cluster does establish is that the reopening held up under a multi-billion-dollar first wave without Binance reporting a new pause, a failed phase, or a revised coverage figure.

What this does and does not prove about Binance's position

Three separations keep this story honest. First, the $3.64 billion is customer money moving out through reopened exits, not stolen money and not recovered money: it is separate from the about $6.3 billion stolen on October 29, from the about $3 billion in affected assets Binance and its partners had frozen or located as of Friday, and from the about 95 percent customer coverage Binance says it funded with company money, a replacement figure, not recovered stolen funds. Second, a stabilising outflow rate is not the same as restored trust: deposits of $1.01 billion in the same window show money still coming in, but one partial day of flows cannot settle whether customers who withdrew will return, or whether the remaining 5 percent of less liquid stolen assets, which Binance says may take longer to source, will be covered on schedule. Third, the next dated markers are unchanged and still ahead: Binance has named no fixed timetable for further withdrawal phases, and the full cryptographic proof of reserves is due November 3, with a proof-of-reserves report expected November 2. The markers to watch are whether Binance publishes a full-day outflow total, whether Phase Two gets a date, and whether the November 3 proof changes the 95 percent coverage figure.

This article is news reporting and is not investment advice.

Sources

• Binance post on X, as reported by Devdiscourse, Binance sees net outflows of $3.64 billion after resumption of withdrawals (November 1, 2026, primary source for the outflow figures: about $3.64 billion net between 0600 and 1530 GMT, 2.1 percent of $171 billion in assets under management, over $4.64 billion in withdrawals, $1.01 billion in deposits, and the stabilising quote)
• Reuters, via Euronext, Binance sees spike in customers pulling funds out after covering bulk of stolen $6.3 billion (November 1, 2026, secondary source for the spokesperson statement, the DefiLlama dashboard reading above $3.5 billion, and the 95 percent coverage figure)
• Insurance Journal, Binance Restarts Withdrawals as Questions Linger on Record Hack (November 1, 2026, secondary source for co-CEO Yi He's note that some transfers are between Binance wallets, and the DefiLlama $3.5 billion figure)
• CryptoBriefing, Binance sees nearly $3.8 billion withdrawn in 10 hours after reopening (November 1, 2026, secondary source for the nearly $3.8 billion gross withdrawals figure over about 10 hours)
• Cyprus Inform, Binance sees withdrawal spike after reopening some payouts following $6.3 billion hack (November 1, 2026, secondary source for the spokesperson's deposit and market-conditions remarks)
• MABOnChain, Binance Withdrawals Are Live Again for 15 Assets as Coverage Hits 95% (November 1, 2026, background source for the Phase One reopening, the 15 networks, and the 95 percent coverage)
• MABOnChain, Binance Hacker Converts $279M in Stolen Altcoins to ETH, Moves $96M in SOL Toward Bitcoin (November 1, 2026, background source for the laundering wave and the FBI TraderTraitor attribution)