Binance Customers Pulled $3.64 Billion

Binance customers pulled a net $3.64 billion from the exchange as withdrawals reopened after the $6.3 billion heist — and Binance says that rush is now stabilising. The figure, reported by Reuters on Monday, November 2, is the first hard read on customer confidence since the world's largest crypto exchange began restoring services in phases on Sunday. It amounts to 2.1% of the $171 billion in assets Binance said it held on October 28.

What happened, in direct numbers

Between 06:00 and 15:30 GMT on Sunday, November 1, Binance processed $4.649 billion in withdrawals against $1.01 billion in deposits, leaving a net outflow of about $3.64 billion. Binance posted those figures on X and said there was an initial spike in withdrawals, which then declined and stabilised as expected, while deposit volumes remained substantial. Withdrawals resumed in stages, prioritising user demand, with the first phase covering 15 tokens including bitcoin, ether, some USDT and USDC stablecoins and dogecoin.

Why this is blowing up now

Until Sunday, nobody outside Binance knew how customers would actually behave once they could leave. A $6.3 billion theft — described by analysts as potentially the biggest financial robbery ever — is one kind of test. A reopening is another. Investors, rival exchanges and regulators are treating the outflow total as a live confidence vote: large enough to prove the scare was real, small enough, at 2.1% of reported assets, that Binance can argue the platform held. That tension is why the number spread so fast across finance coverage on Monday.

Why two outflow numbers are circulating

Readers will also see a larger figure, $5.81 billion, from crypto analytics platform DefiLlama. The two numbers cover different windows and methods, so they are not directly comparable. Binance's $3.64 billion is its own net figure for the first nine and a half hours after reopening. DefiLlama's dashboard measure, which rose from $4.36 billion earlier, captures a broader 24-hour flow. Binance disputed the DefiLlama figure, saying it does not contain flows the exchange deposited into its own new hot wallet, and that its own update on X is closest to accurate. Both figures should be reported with their source and window attached, not swapped for each other.

Where the recovery stands

Binance says it has now covered 95% of the assets stolen in the heist. It said earlier on Sunday that it had covered $6 billion of stolen cryptocurrencies by using company money to buy replacement tokens, and that it has set aside around $6.34 billion of company funds to bear the financial impact. The remaining share involves less liquid tokens that take longer to source. The exchange, founded in China, says it has 335 million registered users globally.

What it did to the wider crypto market

Bitcoin hit a six-week low on Friday, then recovered slightly through the weekend to trade above $78,000 on Monday. The broader market is still nursing losses from last week. Business Today, citing TRM Labs, reported that spot bitcoin ETFs recorded $643 million in outflows on Friday and that more than $1.3 billion in leveraged positions were liquidated. That context matters: Binance's reopening landed in a market that was already de-risking, which makes a stabilising withdrawal trend — if it holds — a more meaningful signal than the headline outflow alone.

Who does the FBI say did it — and what is disputed?

The FBI and blockchain analysis firms TRM Labs and Chainalysis have linked the attack to North Korea's TraderTraitor unit, citing similarities with previous thefts attributed to the country. President Donald Trump said on Saturday, however, that it remained unclear whether North Korea was involved. The attribution is therefore reported here as the FBI and analysts' assessment, not as a settled fact agreed by the whole US government.

What's next

The next test is simple to watch: whether withdrawals keep easing as more tokens and services return in phases, and whether the remaining 5% of stolen assets is covered. Binance says market conditions are stable and that no customer should bear the loss. If outflows stay near the reported share of assets, the story becomes one of a platform absorbing a record theft. If a second wave follows later phases of the reopening, the confidence question reopens with it. This post reports what happened and why markets reacted; it is not advice to buy, sell or hold any asset.

Sources

FAQ

How much did Binance customers withdraw?

A net $3.64 billion in the first hours after reopening on November 1 — $4.649 billion withdrawn minus $1.01 billion deposited between 06:00 and 15:30 GMT, according to Binance figures reported by Reuters.

Why does DefiLlama show $5.81 billion instead?

DefiLlama measures a broader 24-hour window with its own method, while Binance's figure covers a shorter window and excludes flows into its new hot wallet. The two totals are not directly comparable.

Has Binance replaced the stolen crypto?

Binance says it has covered 95% of the $6.3 billion stolen, using about $6 billion of company money to buy replacement tokens. The remaining 5% involves less liquid tokens that take longer to source.

Did bitcoin recover after the heist?

Partly. Bitcoin hit a six-week low on Friday, then recovered slightly over the weekend to trade above $78,000 on Monday, according to Reuters.

Binance Customers Pulled $3.64 Billion — and the Rush Is Easing