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Binance sees $3.64 billion net outflow after cyberattack

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Binance sees $3.64 billion net outflow after cyberattack

Customers of Binance, the world's largest cryptocurrency exchange, withdrew a net $3.64 billion in funds during the first nine and a half hours after the platform began restoring withdrawals following a cyberattack.

Axar.az reports that Binance provided the figures in a statement posted on its X account.

"Between 06:00 and 15:30 UTC on November 1, we processed $4.649 billion in withdrawals and $1.01 billion in deposits, resulting in a net outflow of approximately $3.64 billion. This represents 2.1% of our $171 billion in total assets under management (AUM), based on the latest available Proof of Reserves (PoR) data as of October 28, 2026," the statement reads.

Binance said withdrawal volumes had declined and were stabilizing following an initial surge, while deposit volumes remained substantial. The company also said market conditions were stable.

The exchange is continuing to test the remaining networks and assets and will provide details about the next phase of withdrawal restoration.

It should be noted that Binance founder Changpeng Zhao had earlier said that the platform had apparently been targeted in a cyberattack, but assured users that their funds were safe.

According to the company's preliminary assessment, the incident affected assets worth approximately $6.3 billion.

The exchange said it would cover all losses resulting from the attack using its own funds and the Secure Asset Fund for Users (SAFU), a reserve fund established to protect users.

Date
2026.11.02 / 11:26
Author
Axar.az
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