Binance net outflow of 2.1% uses assets from before the hack

In a Binance post on X, the exchange put its net outflow at about $3.64 billion from 6 a.m. to 3:30 p.m. UTC on Nov. 1, 2026, after withdrawals reopened. That equals 2.1% of $171 billion in assets from its Proof of Reserves data dated Oct. 28, the day before the Oct. 29 hack. Proof of Reserves is Binance's periodic snapshot matching the assets it holds to customer balances on a fixed date.

If you hold coins there, the question is whether this is a run, and the answer turns on the base. The share against post-hack holdings arrives with Binance's updated Proof of Reserves report, which the exchange expected to post on Nov. 2. Flow figures past 3:30 p.m. UTC on Nov. 1 would extend the count.

Deposits offset about 22% of withdrawals

Binance's post breaks the net figure into $4.649 billion in withdrawals and $1.01 billion in deposits over the same 9.5 hours. A net outflow is withdrawals minus deposits over a stated window, much like a bank's daily withdrawals less its new deposits. Set side by side, deposits offset about 22% of the money that went out.

The window also opened in steps. Withdrawals began returning at 6 a.m. UTC, and the first phase, 15 networks and assets, was fully running by 12:36 p.m. UTC. For part of the 9.5 hours, some of those 15 were still closed, and other networks were still in testing.

Wallet trackers count more over 24 hours

On-chain trackers show a bigger number over a longer window. Decrypt, citing a CoinDesk report based on DefiLlama data, said more than $6 billion left wallets linked to Binance in the 24 hours after withdrawals reopened. Those movements can include transfers between Binance's own wallets.

DefiLlama sums the balances in publicly known Binance wallets, a measure taken from outside the exchange. The DefiLlama API showed about $127.18 billion in tracked Binance assets at 11:18 a.m. UTC on Nov. 2, 2026, a value that changes continuously. That figure and Binance's $171 billion come from different dates and methods, so they stand as separate measures.

Binance also switched wallets during the window. At 6:53 a.m. UTC on Nov. 1, it added newly generated addresses to its Proof of Reserves list and said in a post on X that all withdrawals would be processed from them going forward.

Binance's afternoon post said withdrawals declined and were stabilizing after an initial spike, with deposits staying substantial.

Founder Changpeng Zhao put most of the net outflows in the first couple of hours, CNBC reported. He sought to reassure users on X: "98% choose to stay!"

More networks and five fiat currencies reopened

Withdrawals returned in the phases Binance set out before the restart. Beyond the 15 first-phase networks, Decrypt reported that more have since reopened, including Zcash, TON and Sui.

Decrypt also reported that fiat withdrawals returned on Monday, Nov. 2, in five currencies: U.S. dollars, UAE dirhams, Vietnamese dong, Philippine pesos and Indonesian rupiah. Before you move coins, check that both the asset and the network you plan to use show as open on Binance.

Elliptic and Reuters report different loss reserves

Elliptic, a blockchain analytics firm, put the Oct. 29 theft at $6.43 billion, against around $6.3 billion in Binance's own estimate.

Elliptic also reported that Binance reserved more than $6.34 billion of company funds to cover the losses. Reuters, as relayed by Decrypt, gave $6 billion raised from Binance's corporate treasury, an insurance fund and SAFU, its emergency fund. A pledge settles who is meant to pay; a Proof of Reserves report lists the balances behind it.

The Oct. 31 snapshot sets the post-hack base

Binance took its new Proof of Reserves snapshot at midnight UTC on Oct. 31, after the Oct. 29 hack. It captures assets after the theft and before the Nov. 1 outflows.

When the report appears, divide the $3.64 billion by its total to set the outflow against post-hack assets. If you hold XRP or RLUSD there, look for both in the report. Its figures stand as of midnight UTC on Oct. 31, 30 hours before withdrawals reopened.