Binance outflows hit $4.7 billion, but the pace is slowing

Binance says its customers have pulled a net $4.72 billion since withdrawals reopened on Sunday morning. A company spokesperson gave the figure to Reuters on Monday, November 2, 2026. The total is up from $3.64 billion in the first 9.5 hours, which we covered yesterday, and equals about 2.8% of assets on the platform.

The total is not the only thing that changed. Binance says withdrawal volumes have declined after the initial surge and are stabilizing. There were also $2.7 billion in inflows offsetting part of the outflow. On Monday Binance restored US dollar cash as a withdrawal option. Bitcoin on the Bitcoin network, plus ether and some dollar stablecoins on Ethereum, can be withdrawn again, but Binance's site still shows withdrawals partially suspended for most other cryptocurrencies.

Not a bank run, on Binance's own comparisons

Reuters sets the $4.72 billion next to two comparisons. After Silicon Valley Bank collapsed in 2023, about $7 billion left Circle's USDC stablecoin in a week. After FTX collapsed in December 2022, Binance itself processed about $6 billion in net outflows over 72 hours. Against those markers, analysts quoted by Reuters judged that customer confidence had largely held up.

Binance co-CEO Yi He wrote on X on Monday that the top priority now is making sure the environment is secure, after which users can withdraw their funds and Binance can resume full operations. She also said not every withdrawal came from customers, since some were transfers between Binance wallets.

What is still pending

Two things are unchanged from our last update. Binance says it has raised $6 billion from its corporate treasury, an insurance fund, and reserves set aside for security breaches, and about 95% of the stolen assets have been replaced. On the law enforcement side, the FBI has blamed the North Korean group TraderTraitor, and TRM Labs counts North Korea-linked hackers as having stolen $7.4 billion so far in 2026. The full cryptographic proof of reserves (zk-SNARK) is still due Tuesday, November 3.

Until that report lands, the $4.72 billion stays a company figure via a spokesperson, not an independently audited result. The hack's own loss figure is likewise still written two ways in the press, $6.3 billion in some reports and $6.4 billion in others, until Binance or an independent auditor publishes a full reconciliation.

The hack itself and the first-day numbers are in our first-day outflows article. If you are following the effect on capital markets instead, see our Bitcoin ETF article: US funds recorded $643 million in outflows on Friday, the most since June, but that is under 1% of total ETF assets.

Sources: Reuters (Nov 2, 2026), Bloomberg via Insurance Journal (Nov 2, 2026). Figures are snapshots at writing time, evening November 2, 2026 WIB, and can change.

Written by Mastechon

Writing about crypto and Super Intelligence: market news, new projects, Super Intelligence models, and early opportunities like airdrops and testnets. Every piece starts from the official announcement, with the costs worked out up front.