Binance recorded more than $4 billion in outflows of Bitcoin, Ether and major stablecoins after restoring withdrawal access on November 1. The move came days after the exchange suspended services following a security incident on October 29 that it estimated affected roughly $6.3 billion in customer funds.

The company attributed the incident to a compromised DevOps engineer’s laptop and stated it found no evidence of a wallet private-key leak. Binance said it had covered about 95 percent of the affected amount and would absorb the losses itself.

Withdrawal Resumption and Initial Flows

Withdrawals began returning in stages on November 1. The first phase ran from 1 a.m. to 4 a.m. ET, with the exchange planning a gradual restoration across assets and networks after completing security checks. By 7:36 a.m. ET, access had been restored for all 15 networks and assets included in the initial phase.

In the first 9.5 hours after service resumed, from 1 a.m. to 10:30 a.m. ET, Binance processed $4.649 billion in withdrawals against $1.01 billion in deposits. Withdrawals exceeded deposits by $3.64 billion during that window, a figure equal to 2.1 percent of the exchange’s $171 billion in assets under management according to its October 28 proof-of-reserves data.

Binance reported that the early withdrawal spike later eased and stabilized, while deposit volumes remained elevated.

Net Outflow Figures and Platform Assets

Separate measurements of net outflows, which subtract incoming deposits from outgoing withdrawals, showed different readings depending on the time window examined. One early update recorded $1.02 billion in net outflows, while a 24-hour period showed about $1.26 billion in net outflows. Over the preceding seven days, which included the October 29-30 incident dates, net outflows reached approximately $8.01 billion.

Platform asset totals also varied across updates. One snapshot placed total platform assets at $156.192 billion. Another listed about $133.9 billion. The $171 billion figure used for the 2.1 percent comparison came from the October 28 proof-of-reserves report. Binance generated a new reserve snapshot on October 31 and began zero-knowledge proof calculations, with an updated proof-of-reserves report expected to be published.

Earlier in the day, withdrawals had returned on a limited basis across seven networks, including Bitcoin, Ethereum, BNB Smart Chain, XRP, Base, Dogecoin and Optimism. Coverage remained partial on those networks at the time.

Activity on Other Exchanges

During the same 24-hour window that produced Binance’s $1.26 billion net outflow reading, competing platforms recorded inflows. OKX saw a net inflow of about $65.4 million, while Bybit recorded a net inflow of roughly $20.6 million.

Binance described the resumption process as proceeding according to plan, with access expanding gradually after the completion of security reviews.