UPDATE: Binance restores USD withdrawals following $3.64B net outflow
CIE News ·
Update to UPDATE: Binance records $3.64B in net outflows after reopening withdrawals
Based on reporting by The Guardian; not yet independently confirmed.
Binance has restored US dollar cash withdrawals on November 2, 2026, after users pulled a net $3.64 billion over a 9.5-hour period following a phased reopening from a $6.3 billion hack.
Binance restored US dollar cash withdrawals on November 2, 2026, following the earlier resumption of Bitcoin, Ethereum, and stablecoin transfers on November 1. As previously reported, users pulled a net $3.64 billion from the platform during an initial 9.5-hour operational window, representing about 2.1% of its $171 billion in total assets under management.
Binance co-CEO Yi He posted on X that the platform's immediate priority is to ensure the environment is secure so operations can resume normally and users can withdraw funds. The exchange stated that withdrawal volumes have declined and begun stabilizing following the initial spike, with $1 billion in deposits balancing $4.6 billion in total outflows.
Tim Sun, a senior researcher at HashKey Group, noted that while the security incident damaged market confidence, it did not cause widespread panic or concentrated withdrawals. Binance said it is covering the losses from the $6.3 billion hack through its corporate treasury, an insurance fund, and a dedicated security reserve.
Key facts
- USD withdrawals restored
- $3.64B net outflow in 9.5 hours
- 2.1% of total AUM withdrawn
- $6B raised to cover hack losses
Read the original at The Guardian