Binance Withdrawals Reopen After Record Hack as Outflows Test Trust

By Coinvote

Published November 2, 2026 - 07:22 UTC | 4 mins read

Binance began restoring customer withdrawals after the largest crypto theft on record, and billions of dollars left within hours. The exchange says the exodus is small against its roughly $171 billion in assets and is already slowing, while the FBI has reportedly pointed to North Korea.

Customers pull billions as Binance lets withdrawals resume

Binance began restoring withdrawals at 6:00 UTC on Sunday, and customers moved quickly. According to Cointelegraph, citing DefiLlama data, the exchange recorded $5.8 billion in net outflows over a 24-hour window, the first real measure of user confidence since the record hack.

Binance itself reported a smaller figure for an earlier cut-off. Binance's own tally as of 3:30 UTC showed $4.6 billion paid out and $1 billion coming in, a net drain of $3.6 billion. The exchange said withdrawal volumes surged at the start, then slowed and began to stabilize.

Cointelegraph said it asked Binance for comment on the DefiLlama figure and had not received an immediate response.

A phased restart that begins with the largest assets

Binance did not reopen everything at once. CoinDesk reported that the exchange is opening crypto withdrawals in phases, with bitcoin leading the first stage. Cointelegraph added that by 12:36 UTC Binance had enabled withdrawals for tokens on 15 networks, including Bitcoin, Ethereum, BNB Smart Chain and XRP Ledger.

The exchange said it will keep restoring further assets and networks in stages. Early data it shared showed that USDt accounted for the largest share of withdrawals, followed by USDC and then Bitcoin. That ordering suggests customers were moving stablecoins first, although none of the outlets say why.

The key figures behind the outflow

The numbers come from different measurement windows, so they should not be read as contradicting each other. Binance's own tally covers the hours after the restart, while the DefiLlama number spans a full day.

Record hack: Cointelegraph described the theft as the largest in crypto history, and the amount lost is cited in its report as a headline figure.
90%: the share of lost assets Binance said on Saturday it had made good, drawing on company treasury money and two reserve pools, one for users and one covering futures.
$3.6 billion: net outflows by 3:30 UTC, after $4.6 billion in withdrawals and $1 billion in deposits.
$5.8 billion: net outflows over the preceding 24 hours, according to DefiLlama data cited by Cointelegraph.
$171 billion: the approximate customer assets Binance says it holds, the base for its argument that the outflows are modest.

How the outlets' accounts compare

Cointelegraph provides the fullest account and is the only outlet here to cite the DefiLlama 24-hour figure. Its report also gives the timing of the restart and the network list, and it notes that Binance said the outflow was a small portion of its holdings.

The Block frames the same event through Binance's own percentage. Its summary says the net outflows of $3.64 billion equal 2.1% of the $171 billion in assets and that withdrawal volumes declined after an initial spike. That matches the $3.6 billion figure in Cointelegraph's report, only with more decimal places.

CoinDesk focuses on sequencing, saying bitcoin leads the first phase of a staged reopening. The Defiant covers a different thread, reporting that the FBI attributed the hack to North Korea. The bureau named the group TraderTraitor and sought blocks on the laundering trail, and Binance had kept Nov. 1 as its restart target.

The Block, CoinDesk and The Defiant were available only as headlines and summaries, so details beyond those lines are not established here. The larger $5.8 billion figure rests on Cointelegraph's reading of DefiLlama data alone.

Why the withdrawal test matters

After an exchange hack, the first days of reopening are the moment when users decide whether to leave. An exchange that has replenished losses from its own reserves still has to show that customers can actually take their coins out, and a run of withdrawals is the most direct way users test that.

Binance's framing is that the outflow is a fraction of its asset base and that the pace is easing. The more cautious reading is that a multi-billion-dollar net outflow in a day is still large in absolute terms, and that a single day of data cannot show whether the trend has settled.

The attribution reported by The Defiant adds a second dimension. If the FBI's request to block the laundering trail succeeds, it could limit what the attackers can do with the stolen funds. None of the outlets reports that any funds have been recovered or frozen.

What to watch next

Several questions remain open. Readers can check whether Binance publishes updated outflow totals as more networks and tokens come back online, and whether those totals keep falling after the first surge.

It is also unclear how the staged restoration will proceed for assets that are not yet enabled, and whether the exchange will say how the rest of the lost assets is being handled. Users holding tokens on networks not yet listed can follow Binance's updates for the status of their assets.

Another open issue is whether the FBI's blocking requests lead to any action against the laundering trail, since Cointelegraph's magazine digest also notes that the THORChain co-founder opposes a coin freeze.

Market snapshot

Asset	Price	24h	7d	Market cap
Bitcoin (BTC)	$78,035	+0.3%	-2.6%	$1.57 trillion
Ethereum (ETH)	$2,281	+0.7%	-1.8%	$278.76 billion
BNB (BNB)	$707	+0.4%	-4.5%	$92.99 billion
XRP (XRP)	$1.25	-0.2%	-3.2%	$79.10 billion

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

FAQ

How much did Binance lose in the hack?

Cointelegraph reported that the hack was the largest crypto theft on record. Binance said on Saturday that it had covered 90% of the lost assets from its treasury and two reserve funds.

How much money left Binance after withdrawals reopened?

Binance reported $3.6 billion in net outflows by 3:30 UTC, which The Block put at 2.1% of the exchange's $171 billion in assets. Cointelegraph, citing DefiLlama, reported $5.8 billion in net outflows over 24 hours.

Who does the FBI blame for the Binance hack?

According to The Defiant, the FBI attributed the hack to North Korea and named the group TraderTraitor. The bureau also sought blocks on the laundering trail.