While many users rushed to withdraw their funds, I'm choosing to stay. My coins remain on Binance for now. 👀
But let's look beyond the headlines and examine the numbers.
🧮 $4.65 BILLION WITHDRAWN — SHOULD USERS PANIC?
According to Binance, between 06:00 and 15:30 UTC on November 1, the exchange recorded:
💸 Withdrawals: $4.649 billion
💰 Deposits: $1.01 billion
📉 Net outflow: Approximately $3.64 billion
🏦 Total assets: $171 billion
📊 Net outflow as a share of assets: Approximately 2.1%
Binance also reported that withdrawal volumes declined and began stabilising after the initial rush.
By 12:36 UTC, all 15 networks and assets included in the first withdrawal-restoration phase were available. The remaining networks and assets were still undergoing checks.
🔍 WHY AM I CHOOSING TO STAY?
1️⃣ I Still Have Confidence in Binance
Binance remains my preferred centralized exchange (CEX). The recent security incident is serious, and no exchange or wallet is completely risk-free. However, I want to see how the platform performs throughout its recovery.
2️⃣ The Team's Response Matters
Binance has stated that it will absorb the financial impact of the incident rather than pass the losses to users. The response from the leadership team, including @CZ and @Yi He, is something I'm watching closely.
3️⃣ Binance Alpha Points Matter to My Strategy
I use Binance Alpha and value the opportunity to collect Alpha Points for potential airdrop eligibility. Account activity and eligible asset balances can matter under Binance's scoring rules, so I prefer to maintain the balance I need for my strategy.
4️⃣ Community Rewards Are Now Official
Binance has announced a Community Appreciation Campaign running from November 2 to November 21, 2026. It includes trading rewards and promotional earning opportunities for eligible users.
However, participation comes with specific conditions. Users should check the official announcement rather than assume simply holding coins guarantees rewards.
⚖️ MY FINAL TAKE
The $3.64 billion net outflow is a significant amount, but the 2.1% comparison provides important context. Binance says withdrawals have stabilised, and the phased restoration is progressing.
Still, one recovery milestone doesn't erase security risks. I'll continue monitoring withdrawal access, Proof of Reserves updates and the exchange's security improvements.
This is my personal decision, not financial advice. Self-custody may be the better choice for users who prefer controlling their own private keys.
👇 WHAT WOULD YOU DO?
Would you keep your $BTC , $BNB and $ETH on Binance, or move them to a personal wallet?
Your money. Your decision.
#BinanceProcesses$4.65BWithdrawals
