ABU DHABI (ALETIHAD)
Binance processed $4.649 billion in withdrawals and $1.01 billion in deposits in the first nine and a half hours after reopening withdrawals on Sunday, a statement from the cryptocurrency exchange said.
The withdrawals resulted in a net outflow of about $3.64 billion, equivalent to 2.1% of its $171 billion in total assets under management, based on its latest Proof of Reserves data from October 28, the statement said.
Binance said withdrawal volumes have declined and are stabilising after an initial spike, while deposits have remained substantial.
The figures cover transactions between 6am and 3.30pm UTC on November 1, when customers regained access to their cryptocurrency holdings following a temporary suspension caused by a major security breach.
"Rest assured that market conditions are stable," Binance said in its latest statement.
The exchange began restoring withdrawal services in phases at 6am UTC on Sunday.
By 12.36pm UTC, withdrawals had resumed across all 15 blockchain networks and associated digital assets included in the first phase, completing the initial restoration in less than seven hours.
The cryptocurrencies available for withdrawal included Bitcoin, Ethereum, BNB, Solana and XRP, along with stablecoins such as USDT and USDC.
Binance said it was testing the remaining networks and digital assets before announcing the next phase of withdrawals.
The resumption followed a cyberattack on October 29, when hackers compromised the exchange's hot wallets — digital wallets connected to the Internet and used to facilitate cryptocurrency transactions — resulting in the theft of approximately $6.3 billion worth of digital assets.
Binance temporarily suspended withdrawals to contain the breach, assess the impact and conduct security checks. Deposit services remained operational throughout the suspension.
In an earlier update on November 1, Binance said it had replenished approximately 95% of the assets affected by the breach using company resources, up from 90% in its previous statement.
The remaining 5% consisted of less liquid cryptocurrencies that were taking longer to acquire in the required quantities, the company said.
Binance reiterated that customers would not bear the financial losses resulting from the incident, with the exchange committing to cover the stolen assets through its Secure Asset Fund for Users (SAFU) and corporate treasury.