Binance records net outflow of some $3,600 million as it reopens withdrawals

Binance processed some $4,600 million in withdrawals and some $1,000 million in deposits after reopening withdrawals in phases on Sunday, November 1, a net outflow of some $3,600 million, according to company figures reported by The Guardian and reproduced by Newswire. That outflow is equivalent to 2.1% of the $171,000 million in assets managed by the platform, according to that article.

Binance said withdrawal volume had peaked and was falling while deposits remained high, and that the figures appear in its latest proof-of-reserves snapshot, according to The Guardian. The first phase restored withdrawals on 15 networks and assets, including ether, and USDT and USDC on Ethereum.

The company said on Saturday that it had replenished 90% of what was stolen and that it had used some $6,340 million of its own funds to cover the losses, according to the same article. The FBI attributes to North Korea the theft of “more than 6,000 million” in virtual assets.

Story under review: the figures come from a single outlet citing Binance; neither the company's post nor its full reserves report, which it expected to publish this Monday, could be accessed.