Binance reports $3.64bn net outflow after withdrawals resume

The exchange said it processed $4.649 billion in withdrawals and $1.01 billion in deposits between 06:00 and 15:30 UTC on 1 November. The $3.64 billion net outflow is the difference between those figures, not the total withdrawn.

Binance said the net outflow represented 2.1% of the $171 billion in assets under management reported in its reserves data on 28 October, before the attack. It said withdrawal volumes fell after an initial spike and were stabilising as expected.

Withdrawals began to resume in phases at 06:00 UTC on 1 November. By 12:36, Binance said, they had resumed for all 15 networks and assets included in the first phase. The company said it was testing the remaining networks and assets.

Binance had temporarily suspended withdrawals after the attack on 29 October. The company put the value of the stolen cryptocurrency at about $6.3 billion. The FBI has attributed the theft to North Korea.

Binance said it had replaced about 95% of the affected assets using sources including company and reserve funds, and pledged to cover all losses. Replacing assets does not mean the stolen cryptocurrency has been recovered.