Customers Pull a Net $3.64B From Binance as Withdrawals Return

Binance customers took out about $3.64 billion more than they put in during the first nine and a half hours after withdrawals reopened Sunday, the exchange said. It is the first hard number on how much the $6.3 billion hack has shaken trust.

Between 1 a.m. and 10:30 a.m. ET, Binance processed $4.65 billion in withdrawals and $1.01 billion in deposits, it said on X. It put the net outflow at 2.1% of its $171 billion in assets under management. Withdrawal volumes "have declined and are stabilising as expected" after an early spike, while deposits "have remained substantial," Binance said. Reuters and Il Sole 24 Ore carried the same figures.

An outside count lines up. DefiLlama's dashboard showed more than $3.5 billion in net outflows from Binance on Sunday, Reuters reported. Binance did not comment on that data.

Why the net number is the one to read

While withdrawals are frozen, nobody can test whether an exchange still holds their coins. Reopening lets each customer run that test by moving coins to a wallet they control. Gross withdrawals measure how busy the exit door was. The net figure subtracts fresh deposits, so it tracks the money that actually left the building.

Solana is back, other coins wait

Solana withdrawals for SOL, USDT and USDC returned at about 6:15 a.m. ET. Black Mint reported earlier Sunday that Solana was still closed. By 7:36 a.m. ET all 15 networks and assets in the first phase were running, Binance said, after TON, Sui and Zcash joined the list. The exchange said it is still testing the rest.

Binance also said it has now covered 95% of the stolen assets, up from the 90% it gave Saturday, Reuters reported. The remainder is in less liquid tokens that may take longer to buy, the exchange said.

Bitcoin traded at $78,071 around noon ET, up 0.7% over 24 hours, per CoinGecko.

In our opinion: losing 2.1% of assets in a morning is a bruise rather than a run, as long as the pace keeps slowing the way Binance says it is. The fuller verdict comes when the remaining networks reopen and the last 5% of stolen tokens is bought back. Watch the next proof-of-reserves snapshot and whether Monday's net outflow comes in smaller than Sunday's.