Binance Reopens Withdrawals After Record Hack as Rivals Draw Inflows

By Coinvote

Published November 2, 2026 - 11:21 UTC | 4 mins read

Binance is posting billions of dollars in net outflows after it restored withdrawals following a $6.3 billion hack, while OKX leads rivals with about $445 million in inflows. The outlets measure the exits differently, and flow data cannot show how much moved into self-custody.

Binance sees billions leave as withdrawals resume

Binance recorded more than $7 billion in net outflows over 24 hours, Cointelegraph reported on Monday. The figure was up from $5.8 billion earlier in the day. The exits follow Binance's decision to restore withdrawals in phases from 6:00 a.m. UTC on Sunday, after a suspension that began on Friday.

OKX took in about $445 million over the same period, the largest gain among tracked exchanges, according to DefiLlama data cited by Cointelegraph. Bybit followed with $112 million, Gate with $91 million and Bitget with $54 million.

The Defiant reported a lower Binance net outflow figure in its headline. It also named OKX as the leader among 10 large tracked competitors.

From record theft to a phased reopening

Binance was hit by a $6.3 billion hack late on Thursday, which Cointelegraph described as the largest in the history of cryptocurrency. The exchange suspended withdrawals on Friday, soon after the breach.

Binance said it had replenished 90% of the affected assets by Saturday and approximately 95% by Sunday. The remaining 5% consists of less liquid tokens, which the exchange is still buying through market and over-the-counter transactions. Over-the-counter trades are negotiated privately, which generally helps a buyer avoid moving the price of a thinly traded token.

How Binance says it is covering the loss

According to Cointelegraph, Binance is drawing on three pools to replace the stolen assets: its corporate treasury, part of its Secure Asset Fund for Users (SAFU) and part of its futures insurance fund. The exchange has pledged that customers will not bear the loss.

About $3 billion in stolen assets has been frozen by industry partners. Cointelegraph said that sum is separate from the funds Binance is using for replacement. Binance published a new reserves snapshot on Sunday, and Cointelegraph said a refreshed proof-of-reserves report was due on Monday. Such a report is generally meant to show that an exchange's holdings cover customer balances, so its contents are an open question until it appears.

The numbers behind the exchange flows

The reported figures differ by outlet and by measurement window, so each is listed with its source.

Hack size: $6.3 billion, according to Cointelegraph.
Binance net outflow: more than $7 billion over 24 hours (Cointelegraph), while The Defiant's headline gives a lower figure.
OKX net inflow: about $445 million, the largest among tracked exchanges.
Other inflows: Bybit $112 million, Gate $91 million, Bitget $54 million.
Binance wallets tracked by DefiLlama: about $127.9 billion, against $29 billion at OKX.
Assets replenished by Sunday: approximately 95%.
Stolen assets frozen by industry partners: about $3 billion.

Where the two accounts agree and diverge

Both outlets place Binance at the bottom of the flow rankings and OKX at the top. They disagree on scale. Cointelegraph's more than $7 billion is a 24-hour reading that climbed during the day, while The Defiant's headline figure is lower.

The Defiant is available only as a headline and summary, so its time window and method cannot be compared with Cointelegraph's. The Defiant does add one caution. According to the outlet, aggregate exchange net flows cannot show what portion of Binance users moved funds into self-custody wallets, which means gains at rivals may understate what actually left Binance.

Why the outflows matter for traders and token teams

Even after the exits, DefiLlama's tracked wallets showed Binance with about $127.9 billion, over four times the $29 billion at OKX, which ranks second by that measure. The flows therefore show a shift at the margin rather than a change in the ranking.

Holders of smaller tokens may want to check Binance's announcements on which assets are still being restored, since the exchange said the outstanding portion consists of less liquid tokens. Project teams with tokens listed on the venue can do the same for their own assets.

BNB traded near $704 on CoinGecko, down 1.5% over 24 hours, 4.6% over seven days and 8.1% over 30 days, against an all-time high of $1,370 set on 2025-10-13. Cointelegraph cited CoinMarketCap showing BNB up 0.3% to about $708 and OKX's OKB up about 1.4% near $113. The readings differ by provider and time window, and neither outlet links BNB's move to the exchange flows.

Open questions after the reopening

Several points remain unresolved in the reporting so far.

Whether the updated proof-of-reserves report is published and what it shows.
Whether Binance completes the last 5% of replenishment, which involves less liquid tokens.
Whether daily outflows slow or continue now that withdrawals are open.
What happens to the roughly $3 billion in frozen assets.
How much of the outflow went to rival exchanges and how much to self-custody.

Market snapshot

Asset	Price	24h	7d	Market cap
BNB (BNB)	$704	-1.5%	-4.6%	$92.62 billion

CoinGecko data as of 2026-11-02 (UTC).

FAQ

How big was the Binance hack?

Cointelegraph reported that the hack late on Thursday totalled $6.3 billion, the largest in cryptocurrency history. Binance suspended withdrawals on Friday and began restoring them in phases at 6:00 a.m. UTC on Sunday.

How much has left Binance since withdrawals reopened?

Cointelegraph reported more than $7 billion in net outflows over 24 hours, up from $5.8 billion earlier on Monday. The Defiant reported a lower net outflow figure in its headline, and its summary notes that net flows do not show how much moved into self-custody.

Which exchanges gained from the outflows?

OKX led with about $445 million in 24-hour net inflows, according to Cointelegraph. Bybit gained $112 million, Gate $91 million and Bitget $54 million, and The Defiant also named OKX as the top gainer among 10 large rivals.