Binance just opened the second door of its post-hack recovery, and three things landed at once.
Phase two of withdrawals started at 12:00 Beijing time (04:00 UTC), covering more assets across BSC, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base. Binance says it is reopening gradually as security checks finish, prioritizing tokens by demand over the past week. Deposits stayed open throughout.
The numbers so far:
• Reuters, via Korea Herald: net outflows of about $4.72B since reopening, roughly 3% of platform assets, mostly USDT. Binance says inflows were about $2.7B over the same period.
• DefiLlama data cited by Cointelegraph: net outflows slowed to $2.57B on Monday versus $6.1B the day before.
• Binance says it will absorb the loss, not users, and has raised about $6B from treasury, insurance fund and reserves against the roughly $6.3B stolen.
The politics are heating up too. South Korea's FSC held an emergency meeting on Nov 2 and urged exchanges to hold more than the mandatory 80% of assets in cold wallets. Meanwhile North Korea's Kim Yo Jong called the FBI attribution "absurd", even as TRM Labs and Elliptic say on-chain patterns point to the TraderTraitor group. Elliptic estimates hackers still control about $3.28B, and Binance has warned about fake "fast withdrawal" scammers.
Why it matters: outflows slowing is the first sign this is a stress test passed rather than a bank run. But attribution is disputed by the accused, stolen funds are still moving, and scammers love chaos.
Practical takeaway: Only use official withdrawal pages, never pay anyone to "speed up" a transfer, and keep your own custody plan.
Did this change how much you keep on exchanges?
#Binance #CryptoSecurity #Bitcoin $BNB $BTC
Not financial advice.
Phase two of withdrawals started at 12:00 Beijing time (04:00 UTC), covering more assets across BSC, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base. Binance says it is reopening gradually as security checks finish, prioritizing tokens by demand over the past week. Deposits stayed open throughout.
The numbers so far:
• Reuters, via Korea Herald: net outflows of about $4.72B since reopening, roughly 3% of platform assets, mostly USDT. Binance says inflows were about $2.7B over the same period.
• DefiLlama data cited by Cointelegraph: net outflows slowed to $2.57B on Monday versus $6.1B the day before.
• Binance says it will absorb the loss, not users, and has raised about $6B from treasury, insurance fund and reserves against the roughly $6.3B stolen.
The politics are heating up too. South Korea's FSC held an emergency meeting on Nov 2 and urged exchanges to hold more than the mandatory 80% of assets in cold wallets. Meanwhile North Korea's Kim Yo Jong called the FBI attribution "absurd", even as TRM Labs and Elliptic say on-chain patterns point to the TraderTraitor group. Elliptic estimates hackers still control about $3.28B, and Binance has warned about fake "fast withdrawal" scammers.
Why it matters: outflows slowing is the first sign this is a stress test passed rather than a bank run. But attribution is disputed by the accused, stolen funds are still moving, and scammers love chaos.
Practical takeaway: Only use official withdrawal pages, never pay anyone to "speed up" a transfer, and keep your own custody plan.
Did this change how much you keep on exchanges?
#Binance #CryptoSecurity #Bitcoin $BNB $BTC
Not financial advice.
