Binance faces $3.64 billion in net outflows after it restarts withdrawals in phases, Reuters reported, following the $6.3 billion hack.
The crypto exchange reported processing $4.65 billion in withdrawals and $1.01 billion in deposits during the first nine and a half hours after reopening.
The resulting net outflow represented approximately 2.1% of the $171 billion in assets it reported holding on October 28.
Binance said withdrawal volumes had eased after an initial surge, while deposits remained substantial. The withdrawal figures offer an early test of customer confidence after the breach.
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Binance disputed DeFiLlama’s estimate
According to blockchain analytics platform DeFiLlama, the net outflows from Binance were estimated at $5.81 billion.
However, Binance challenged that figure, saying it excluded funds transferred into a newly created company hot wallet. The exchange said that the missing transfers made the estimate inaccurate.
The competing totals leave the scale of net withdrawals disputed as Binance restores access to customer funds.
Withdrawal access returns in phases
On November 1, Binance’s recovery update outlined an initial rollout across 15 networks, including Bitcoin and Ethereum, alongside selected USDT and USDC withdrawal routes.
The crypto exchange said that reopening priorities were based on customer demand, though each network and asset combination required security and stability checks first.
Binance also said it is purchasing replacements for stolen assets.
We are continuing to purchase the remaining affected assets through market and over-the-counter channels. Binance has now procured approximately 95% of the affected assets, up from 90% in our last update. The remaining 5% consists of tokens outside the top ten listed above. These tokens have relatively low market liquidity, so it will take longer to procure the required amounts, Binance said.
Attackers stole approximately $6.3 billion from Binance hot wallets on Thursday in the largest crypto heist on record, prompting the exchange to halt withdrawals.
The FBI attributed the massive exploit to North Korea’s TraderTraitor hacking group.
Binance said it will publish an incident review report with further details after completing its investigation.
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