Binance progressively reopened withdrawals on Sunday, November 1 at 7 a.m. after suspending operations following a $6.3 billion hack. Withdrawals subsequently reached $6.5 billion over 24 hours, while simultaneous deposits exceeded $1 billion. At 4:30 p.m., the net outflow stood at $3.64 billion, or 2.1% of $171 billion in assets under management, before rising to 5% as assets under management fell to $129 billion according to DefiLlama. The platform also recorded a net outflow of 15,894 BTC, compared with increases of 1,497 BTC for Coinbase and 465 BTC for Kraken. Chief executive Richard Teng said that 90% of the stolen assets had been recovered and that Binance would cover the remaining 10%, with a full reserves report planned for Monday.
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