Binance Outflows Fall to $458 Million as Analysts See Limited Hack Fallout

Binance's net outflows were $458 million over a 24-hour period measured on Nov. 9, while analysts saw limited broader market fallout from the Oct. 29 breach. The latest outflow figure was down from $6.1 billion on Nov. 2, after withdrawals resumed. The Nov. 9 figure covers a rolling 24-hour period, not a calendar day. Binance estimated the breach's total impact at about $6.3 billion and said it would cover user losses with its Secure Asset Fund for Users (SAFU) and company funds. In its Oct. 30 update, the exchange said about $3 billion had been frozen on-chain. The estimate of total impact does not establish the final net loss. Binance's earlier breakdown of the breach's estimated impact includes the frozen-funds figure.

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