Binance Processes $4.65B in Withdrawals Across 15 Networks After Hack

Binance said withdrawal volumes were stabilizing after processing $4.649 billion following its post-hack restart. Deposits offset part of the withdrawals, leaving approximately $3.64 billion in net outflows as the exchange continued restoring access. Binance processed $4.649 billion in withdrawals and $1.01 billion in deposits between 06:00 and 15:30 UTC on Nov. 1, following its withdrawal restart after the $6.3 billion hack. In its withdrawal and deposit update , the exchange said withdrawal volumes had declined and were stabilizing after an initial spike. Net outflows totaled approximately $3.64 billion, equivalent to 2.1% of its reported assets under management. The comparison used $171 billion in assets under management from proof-of-reserves data dated Oct. 28. The earlier recovery plan required security checks and validation before withdrawals returned, while deposits stayed operational.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Bitcoin.com News.