Binance says the frantic outflow following the $6 billion hack has eased — for now. In an update on Tuesday, the exchange reported that by 03:00 UTC on November 3 hourly deposits were finally outpacing withdrawals, a sign that user activity is stabilizing after days of one-way flows. “By 03:00 UTC, we are seeing hourly deposits exceed withdrawals, reflecting improving user activity and stabilizing flows,” Binance posted alongside its hourly chart. What happened - After reopening withdrawals in phases on Sunday, November 1 (three days after the breach), Binance initially saw massive withdrawals. In the first 9.5 hours after withdrawals resumed the platform processed $4.649 billion in withdrawals versus $1.01 billion in deposits — a net outflow of roughly $3.64 billion (about 2.1% of the $171 billion in assets Binance reported pre-attack). CEO Changpeng “CZ” Zhao noted much of that net outflow occurred in the first couple of hours when withdrawals peaked. - Looking at Binance’s full hourly chart from 06:00 UTC on November 1 through 04:00 UTC on November 3, cumulative crypto outflows reached $10.97 billion against $5.695 billion in deposits, for a net outflow of $5.276 billion. The single worst hour was 08:00 UTC on November 1, when withdrawals hit $1.243 billion and the net outflow peaked at $936 million. USDT, USDC and BTC were the largest tokens withdrawn. - Since then the hourly gap has been closing. Binance recorded net positive hourly inflows in six separate hours on November 2 and early November 3. In the key 03:00 UTC hour it took in $193 million in deposits versus $183 million in withdrawals — the first clear sign the run had moderated. Why it matters Deposits exceeding withdrawals — even briefly — is the strongest signal yet that the initial rush to pull funds has cooled and that many users are remaining on the platform. A $3.64 billion net outflow in under ten hours is large in absolute terms but represented just a small slice of Binance’s pre-hack asset base; the broader outflows have been tapering. How Binance is handling losses Binance says it is covering the stolen funds itself, supported by its Secure Asset Fund for Users (SAFU). Co-CEO Richard Teng promised, “We are committed to covering all hacked losses through our company funds.” By Sunday the exchange said it had covered about 95% of the stolen assets (up from roughly 90% a day earlier), buying remaining less-liquid tokens via open-market and OTC deals. Major coins — BTC, ETH, USDT, BNB, SOL, USDC and XRP — are fully backed at 100%, and Binance plans to rebuild SAFU to around $1 billion. What’s next Users will be watching whether deposits continue to outpace withdrawals as Binance finishes buying back the last missing tokens and publishes an updated proof-of-reserves. For now, the numbers suggest the hack withdrawals were a sharp, short-lived surge rather than the start of a sustained exodus. Read more AI-generated news on: https://app.chaingpt.org/news