Binance Reports $3.64 Billion Net Outflow as First Withdrawal Phase Completes

Illustration: colorful coins streaming out of and back into an open vault under a bright morning sky

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Binance said Sunday that it processed $4.649 billion in withdrawals and $1.01 billion in deposits between 1:00 AM and 10:30 AM ET, leaving a net outflow of about $3.64 billion in the first hours after it reopened withdrawals following last week’s hack.

In a post late Sunday morning, the exchange said that figure equals 2.1% of its $171 billion in total assets under management, based on its latest published proof-of-reserves data, dated Oct. 28. It said withdrawal volumes spiked at first, then declined and were stabilizing, while deposits stayed “substantial.”

All 15 networks in the first phase were live by 7:36 AM ET, Binance said, covering assets including BTC, ETH, BNB, XRP, SOL, USDT and USDC. Remaining networks are still being tested, and the exchange said it would share details of the next phase when ready. Its help desk said prediction-market withdrawals and new VIP and flexible-rate loan borrowing remain paused.

On reserves, Binance said the new snapshot was taken at 8:00 PM ET Friday and that the updated report is expected on its proof-of-reserves website on Monday. That is earlier than Saturday’s estimate, which pointed to Tuesday.

The core figures are unchanged. Binance puts the theft at about $6.3 billion, says more than $6.34 billion has been set aside, and reported coverage of about 95% in its latest recovery update. Roughly $3 billion is frozen on-chain. The FBI attributed the theft to North Korea on Saturday.

There is still no post-incident report, no regulator action and no new freeze figure. On-chain trackers report the hacker moving stolen SOL into bitcoin; Hardwire has not independently confirmed those flows.

Prices were steady. As of 11:54 AM ET, CoinGecko showed BTC at $78,043 (+0.7% over 24 hours), ETH at $2,267 (+0.8%) and BNB at $711.61 (+0.9%).

Sources: Binance, Binance Customer Support, FBI, CoinGecko