🚨 BINANCE WITHDRAWALS RESUME! $3.64 BILLION NET OUTFLOW — WHAT HAPPENS NEXT?
November 2, 2026 | Binance Security Update | Crypto News
The cryptocurrency market is closely watching Binance following its massive $6.3 billion security incident.
On November 1, Binance began restoring withdrawal services in phases, marking a major milestone in its recovery process.
But the reopening came with a significant development: billions of dollars moved out of the exchange within hours.
Let's break down the latest figures and understand what they mean.
1. Binance Withdrawal Services Resume
Following the security incident, Binance temporarily suspended withdrawals while its security teams investigated the breach and strengthened affected infrastructure.
On November 1, the exchange began restoring withdrawals across its first phase.
The initial rollout covered 15 networks and assets, including:
- Bitcoin (
$BTC )
- Ethereum (
$ETH )
- BNB
- USDT
- USDC
- Solana (SOL)
- XRP
- Dogecoin (DOGE)
The restoration was conducted progressively, with additional networks and assets expected to become available after security and readiness checks.
2. $3.64 Billion in Net Outflows
One of the biggest developments came from the withdrawal statistics.
Between 06:00 UTC and 15:30 UTC on November 1, Binance reported:
Metric| Amount
Total withdrawals| $4.65 billion
Total deposits| $1.01 billion
Net outflow| $3.64 billion
Reported Binance assets| $171 billion
Net outflow as a percentage of assets| 2.1%
These numbers indicate that users withdrew more assets than they deposited during the initial restoration period.
However, net outflows alone do not establish that Binance is insolvent or that users have lost confidence in the platform.
3. Is the Withdrawal Situation Stabilizing?
According to Binance, withdrawal volumes initially increased sharply but subsequently declined and began stabilizing.
Deposits also remained substantial.
This is an important development because the first hours after a major security incident can involve unusually high transaction demand.
The exchange stated that market conditions remained stable while technical teams continued testing the remaining networks and assets.
4. What About the Remaining Withdrawals?
Binance is following a phased restoration strategy.
The exchange has emphasized that each network and asset must undergo security and operational readiness checks before withdrawals become available.
Users should not assume that every cryptocurrency or blockchain network has already been restored.
The next phase will depend on the completion of technical checks.
5. Proof of Reserves: The Next Important Update
Another major development is Binance's updated Proof of Reserves report.
The report is intended to provide users with updated information about the exchange's reserve holdings and the backing of user balances.
Proof of Reserves can improve transparency, although it is not a complete substitute for a comprehensive financial audit.
The upcoming report will be particularly important following the security incident.
6. Binance's Financial Recovery
Binance previously reported that it had covered approximately 80% of the incident's financial impact.
Its November 1 update stated that the coverage had increased to approximately 95%.
This progress is separate from the recovery of stolen assets.
The exchange has committed to absorbing the financial impact rather than passing the losses on to users.
Final Thoughts
The resumption of withdrawals is a major step in Binance's recovery journey.
The $3.64 billion net outflow highlights the scale of activity following the reopening, but it should be analyzed alongside deposit volumes, reserve information, and the restoration of remaining services.
The next important milestones are:
- Restoration of additional withdrawal networks.
- Publication of updated Proof of Reserves.
- Continued security improvements.
- Further progress in tracing and recovering stolen assets.
The key question is no longer simply when withdrawals will resume, but how Binance will demonstrate long-term security, transparency, and user protection.
💬 What is your opinion? Do you think the phased withdrawal restoration and updated Proof of Reserves will help rebuild confidence in Binance?
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