EL7.AI
CryptoMedium•3 November 2026•
3 min read

Binance Customer Net Withdrawals Reach $4.72 Billion After Platform Reopens

Key Facts

1Binance customers withdrew a net $4.72 billion after the platform reopened through the November 2, 2026, report.
2Binance said net outflows equal about 3% of the platform’s assets.
3Binance raised $6 billion from the company treasury, insurance fund and security incident reserves to cover losses.
4Binance said it had restored 98% of affected assets and frozen or intercepted about $2.85 billion.

Binance customers have withdrawn a net $4.72 billion since the platform reopened, following the theft of crypto assets estimated at about $6.3 billion the previous week, Reuters reported on November 2, 2026. The figure reflects net withdrawals since withdrawals resumed, not the total customers withdrew in a single day. Binance said the outflows equal about 3% of the platform’s assets. It added that most withdrawals were made in the USDT stablecoin. The platform began allowing customers to withdraw again on Sunday morning, after suspending withdrawals for more than two days following the breach.

Binance said it would bear the financial impact of the stolen funds and had raised $6 billion from the company treasury, insurance fund and reserves earmarked for security incidents. The commitment puts the platform’s resources at the center of its response to the withdrawal wave, alongside restoring access to withdrawals. The company also said it had recorded $2.7 billion in customer inflows since Sunday. It said withdrawal volumes had stabilized after an “initial surge.” Those inflows do not erase the net withdrawals recorded since the platform reopened.

In a later update, co-CEO Richard Teng said the withdrawal surge was concentrated in the first 24 hours and that flows had returned to almost normal levels afterward. He said: “In the first 24 hours, there was a surge in withdrawals, as expected. But after that... they returned to almost normal.” By 03:00 UTC on November 3, hourly deposits exceeded withdrawals by about $10 million, according to data cited by CoinDesk. The figures show an improvement in flows during a specific hour, alongside a still-high cumulative withdrawal total.

Binance said in a November 3 update that it had restored 98% of the affected assets and frozen or intercepted about $2.85 billion in assets. The company had previously said about 90% of the stolen assets had been restored and that it would cover the remainder. It also announced that withdrawals would resume in stages for dozens of assets across multiple networks starting at 04:00 UTC on November 3. The networks listed included BSC, Ethereum, Solana, XRP, Sui, Arbitrum, Optimism, TRON and Base. The phased resumption is part of the return of withdrawal operations after their suspension for more than two days.

Historical comparisons put the recorded flows in context: about $7 billion in USDC was withdrawn over a week after the collapse of Silicon Valley Bank in 2023, while Binance recorded net outflows of about $6 billion over 72 hours after the collapse of FTX in 2022, according to Reuters. During the latest market turmoil, bitcoin exchange-traded funds recorded $643 million in outflows on Friday, their largest daily outflows in October, while liquidations of leveraged positions exceeded $1.3 billion. Bitcoin prices recovered over the weekend, trading above $77,000 on Monday after hitting a six-week low on Friday. Binance said it has more than 335 million users worldwide and average daily trading volume of $95 billion across digital assets and derivatives. The company set November 4 for a new proof-of-reserves snapshot covering additional tokens and estimated that generating the updated zero-knowledge proof would take about 40 to 50 hours afterward.