Update
Binance Reports $5B Net Withdrawal in 46 Hours After Hack
Binance reported about $11 billion in withdrawals between 06:00 UTC on Nov. 1 and 04:00 UTC on Nov. 3, after reopening services following its record $6 billion hack on Oct. 29. About $6 billion in deposits offset just over half the withdrawals, leaving roughly $5 billion in net outflows. Binance co-CEO Richard Teng highlighted the development as evidence of improving customer activity, while Bitwise CEO Hunter Horsley noted users' trust in Binance's handling of the security breach. Binance co-founder Changpeng Zhao stated that only 6% to 10% of withdrawn funds went to other centralized exchanges, with most funds transferred to self-custody wallets.