Binance’s First Day of Resumed Withdrawals: $3.64 Billion Outflow, About 2.1% of Platform Assets
Bottom line: Outflows on the first day of resumed withdrawals were manageable. There was no panic-driven bank run, and deposits continued to flow in.
1. Outflow volume: After withdrawals resumed on November 1, customers withdrew $3.64 billion, about 2.1% of platform assets. The figure is as of 15:30 GMT on November 1 and reflects net outflows after withdrawals and deposits were offset.
2. Trend: Binance said withdrawal volumes had stabilized after peaking, while deposit transaction volumes remained substantial. The first-day peak appeared to be a one-off release of pent-up demand rather than sustained outflows.
3. Replenishing losses: A total of $6.3 billion in assets was stolen. Binance said it had replaced 95% of them by purchasing substitute tokens with company funds. The remainder consists mainly of less liquid assets and will take time to procure.
4. Difference in methodology: The DefiLlama dashboard shows outflows of $4.36 billion, about $720 million higher. Binance explained that this figure does not account for funds deposited into its own new hot wallet and is therefore inaccurate.
5. Scope of resumption: Withdrawal services are being restored in phases. The first phase covers 15 tokens, including $BTC , $ETH , $DOGE , and some stablecoins.
Two things to watch next: progress in replenishing the remaining less liquid assets, and whether deposit volumes return to pre-attack levels. The former will determine whether the incident is fully resolved; the latter will determine how quickly user confidence recovers.
#币安 #Fund Flows
Personal opinion only; not investment advice
Bottom line: Outflows on the first day of resumed withdrawals were manageable. There was no panic-driven bank run, and deposits continued to flow in.
1. Outflow volume: After withdrawals resumed on November 1, customers withdrew $3.64 billion, about 2.1% of platform assets. The figure is as of 15:30 GMT on November 1 and reflects net outflows after withdrawals and deposits were offset.
2. Trend: Binance said withdrawal volumes had stabilized after peaking, while deposit transaction volumes remained substantial. The first-day peak appeared to be a one-off release of pent-up demand rather than sustained outflows.
3. Replenishing losses: A total of $6.3 billion in assets was stolen. Binance said it had replaced 95% of them by purchasing substitute tokens with company funds. The remainder consists mainly of less liquid assets and will take time to procure.
4. Difference in methodology: The DefiLlama dashboard shows outflows of $4.36 billion, about $720 million higher. Binance explained that this figure does not account for funds deposited into its own new hot wallet and is therefore inaccurate.
5. Scope of resumption: Withdrawal services are being restored in phases. The first phase covers 15 tokens, including $BTC , $ETH , $DOGE , and some stablecoins.
Two things to watch next: progress in replenishing the remaining less liquid assets, and whether deposit volumes return to pre-attack levels. The former will determine whether the incident is fully resolved; the latter will determine how quickly user confidence recovers.
#币安 #Fund Flows
Personal opinion only; not investment advice
