Binance reports $3.64 billion in net outflows

Binance said it processed about $4.65 billion in withdrawals and $1.01 billion in deposits during the first nine and a half hours of reopened withdrawals on November 1, leaving net outflows of approximately $3.64 billion. The exchange began restoring access after suspending withdrawals following an October 29 attack that drained about $6.3 billion from its hot wallets. The exchange said withdrawals were available across all 15 networks in its first reopening phase by 1236 UTC. Other networks and assets remained under testing, and availability varied by asset and transfer network. Binance said withdrawal volumes had declined and were stabilizing after an initial spike, while deposits remained substantial. The exchange’s net-outflow figure covers activity from 0600 to 1530 UTC. It described the amount as equivalent to 2.1% of its $171 billion in assets under management, using reserve data dated October 28. That comparison uses a pre-attack asset figure, not a measurement of holdings after the November 1 withdrawal surge. Blockchain tracking produced a different estimate over a longer period. DefiLlama data showed $4.05 billion in net outflows over 24 hours as of 1137 UTC on...