Binance Shock: $3.6 Billion Withdrawn From the Exchange in Less Than 10 Hours

The cryptocurrency market is facing renewed concerns about the security of centralized exchanges following one of the largest reported security incidents in the industry. According to a Reuters report published on November 2, 2026, Binance recorded approximately $3.64 billion in net outflows during the first 9.5 hours after it began restoring withdrawal services.

The outflows came after Binance disclosed a security breach last week with an estimated impact of $6.3 billion. The incident has drawn attention from traders, institutional investors, and the wider crypto industry to the safety of assets held on centralized trading platforms.

Breaking Down Binance’s $3.64 Billion Outflows

According to figures released by Binance, the exchange processed approximately $4.65 billion in withdrawals and around $1.01 billion in deposits during the first 9.5 hours after withdrawals began reopening.

The difference between those figures resulted in net outflows of approximately $3.64 billion.

Binance said the net outflow represented about 2.1% of its $171 billion in assets under management, based on reserve information dated October 28.

It is important to distinguish net outflows from total withdrawals. The $3.64 billion figure represents withdrawals minus deposits, not the total value of all assets withdrawn by customers.

What Is Binance Saying About Withdrawals?

Binance said withdrawal activity initially surged but later slowed and began stabilizing. The company also reported that deposit volumes remained substantial.

Services were restored in phases, meaning not every asset and network returned to normal operation at the same time. Customers should therefore check the official Binance status page before attempting to withdraw a particular cryptocurrency or use a specific network.

The reported outflows alone do not establish that Binance is facing insolvency or an imminent shutdown. They show the scale of net customer withdrawals during a specific period following the incident.

What Happened in the $6.3 Billion Security Breach?

Binance disclosed a security incident last week that it estimated had affected approximately $6.3 billion in digital assets. The incident led to temporary withdrawal restrictions and a series of security and recovery measures.

According to Reuters, the FBI attributed the attack to TraderTraitor, a hacking group linked to North Korea. Binance said it had allocated funds to cover the losses and had replenished approximately 95% of the stolen assets.

The full technical details of the breach, the recovery of the remaining assets, and the findings of ongoing security reviews remain important issues for the market.

How Did the Crypto Market React?

The incident has raised concerns beyond Binance itself, particularly about the security of trading infrastructure. Reuters reported that Bitcoin recovered above $78,000 on Monday after reaching a six-week low on Friday. Ether also rebounded to around $2,287 after touching a two-month low.

U.S. spot Bitcoin exchange-traded funds recorded approximately $643 million in outflows on Friday. More than $1.3 billion in leveraged crypto positions were also liquidated.

These figures point to a tense market environment. However, they do not prove that the Binance incident alone caused every price movement or fund outflow.

What Should Binance Users Keep in Mind?

Customers should take several precautions while services continue to normalize:

• Check withdrawal availability through Binance’s official channels and status page.
• Avoid unknown links and messages promising compensation or the immediate recovery of stolen funds.
• Never share wallet recovery phrases, passwords, or two-factor authentication codes.
• Carefully verify the destination address and selected network before transferring assets.
• Avoid making decisions based solely on alarming headlines or short-term withdrawal figures.

Conclusion: A Major Test of Trust for the Crypto Industry

The $3.64 billion in net outflows recorded during the first hours of Binance’s withdrawal reopening highlights the concerns of some customers following the recent security incident. However, the figure represented about 2.1% of the exchange’s reported assets, and Binance says withdrawal activity is stabilizing.

Further information about reserves, withdrawal availability, asset recovery, and the results of security investigations will be important in determining whether customer confidence can recover. For now, transparency and the ability to demonstrate the security and accessibility of customer assets remain central challenges for Binance.