Binance reports $11 billion withdrawn in 46 hours as Zhao says few funds went to rivals
Summary
After reopening services following its $6 billion hack, Binance recorded about $11 billion in withdrawals and $6 billion in deposits between Nov. 1 and Nov. 3, for roughly $5 billion in net outflows—about 3.1% of its reported assets. Withdrawals peaked at a $936 million hourly net outflow, then slowed; by early Nov. 3, deposits slightly exceeded withdrawals. Binance said it covered the hack’s losses from its balance sheet without borrowing, selling assets or raising funds. It also began a phased reopening of withdrawals for more assets as security checks were completed and said it would publish an incident report after its investigation.
