Binance restores access across nine networks – Can deposits keep pace with exits?

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Binance restored withdrawals for nine major cryptocurrencies across nine networks at 4:00 UTC on 3 November following an estimated $6.3 billion hack. The exchange also progressively reinstated some withdrawals on Sui, Arbitrum, Optimism, TRON and Base after completing security checks. Users withdrew approximately $733 million in assets within the first two hours after the partial reopening on 1 November, while net outflows over the previous 24 hours stood at $3.29 billion, more than 50% below their intraday peak of nearly $7 billion. Binance says it replenished about 95% of the affected assets using its own funds and that several cryptocurrencies and stablecoins remain fully backed at a minimum 1:1 ratio. According to Elliptic, the attacker has since mixed 28 BTC through CoinJoin and moved the stolen funds through approximately 12,000 wallets in more than 40,000 transactions; $3.24 billion remains in theft-linked addresses and $2.85 billion has been frozen.

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Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
Telemac
Telemachttp://cryptoinfo.ch
Passionné de nouvelles technologies, j’explore l’univers de la blockchain et des cryptomonnaies pour partager l’actualité et les innovations du secteur.

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