Binance records $3.64 billion in net outflows after reopening withdrawals
đž In the first 9.5 hours on November 1, Binance processed roughly $4.65 billion in withdrawals and received $1.01 billion in deposits, resulting in net outflows of $3.64 billion following the hack.
đ The exchange said this represented 2.1% of its $171 billion in assets reported in its October 28 reserves disclosure. However, that figure predates the incident and offers limited insight into its capacity to meet further withdrawals.
đ Binance said withdrawal volumes declined after the initial spike. This suggests early pressure has eased, although services are being restored in phases, leaving subsequent flows worth monitoring.
đ An updated proof-of-reserves report is expected on November 2. Its October 31 snapshot will not reflect withdrawals made on November 1.
âïž Continued withdrawal processing as more networks reopen, alongside full replenishment of affected assets, will provide a clearer basis for assessing the exchangeâs stability.
#CryptoInsights $BNB
đž In the first 9.5 hours on November 1, Binance processed roughly $4.65 billion in withdrawals and received $1.01 billion in deposits, resulting in net outflows of $3.64 billion following the hack.
đ The exchange said this represented 2.1% of its $171 billion in assets reported in its October 28 reserves disclosure. However, that figure predates the incident and offers limited insight into its capacity to meet further withdrawals.
đ Binance said withdrawal volumes declined after the initial spike. This suggests early pressure has eased, although services are being restored in phases, leaving subsequent flows worth monitoring.
đ An updated proof-of-reserves report is expected on November 2. Its October 31 snapshot will not reflect withdrawals made on November 1.
âïž Continued withdrawal processing as more networks reopen, alongside full replenishment of affected assets, will provide a clearer basis for assessing the exchangeâs stability.
#CryptoInsights $BNB
