Binance Reopens to $3.64 in Net Outflows. '98% Choose to Stay', Says Its Founder
Binance now says it's replenished 90% of assets stolen last week in a $6.3 billion security breach, its customers still "rushed to move funds off the platform" when it reopened Sunday, CNBC reports, and Binance "said it recorded $3.64 billion in net outflows after reopening withdrawals on Sunday." The exchange processed $4.65 billion in withdrawals and $1.01 billion in deposits between 6 a.m. and…
Binance has reported $3.64 billion in net outflows following the reopening of its platform post a $6.3 billion security breach last week. Despite the incident, 98% of users have decided to stay, according to Binance's founder and former CEO Changpeng Zhao, who reassured users on X. The exchange processed $4.65 billion in withdrawals and $1.01 billion in deposits between 6 a.m. and 3:30 p.m. UTC on November 1, with withdrawal volumes declining and stabilizing after an initial spike.
Deposit volumes, however, remained substantial. Zhao stated that most of the net outflows occurred within the first couple of hours after withdrawals resumed.
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