Binance Resumes Withdrawals Across Nine Networks Following $6.3B Breach
Key Summary
Binance resumed cryptocurrency withdrawals for major digital assets at 04:00 UTC Monday across nine networks, following a $6.3B exploit. Data compiled by DeFiLlama indicates the exchange recorded $3.29B in net outflows over a 24-hour window. Meanwhile, on-chain analytics firm Elliptic confirmed the hacker moved 28 BTC through mixing services.
Key Bullets
- Binance resumed cryptocurrency withdrawals across nine supported networks at 04:00 UTC on Monday following a massive security breach.
- DeFiLlama tracking metrics show Binance recorded $3.29B in net outflows during the latest 24-hour trading session.
- On-chain analytics reported by Elliptic confirm the attacker moved 28 BTC through privacy tools to obscure transaction origins.
- Proof of Reserves data published on October 31st revealed falling Ethereum and USDT balances alongside rising Bitcoin holdings.
Binance Restores Withdrawals Across Nine Networks
Binance resumed cryptocurrency withdrawals for Bitcoin, Ethereum, Ripple, Solana, Dogecoin, Chainlink, Cardano, Litecoin, and Shiba Inu at 04:00 UTC Monday across nine supported networks. Exchange communications indicate that withdrawal capabilities for Sui, Arbitrum, Optimism, TRON, and Base are returning through a phased operational rollout. Security teams prioritized token accessibility based on user demand tracked throughout the prior week.
Internal capital reserves replenished roughly 95% of the compromised digital assets using corporate balance sheet funds. Data from CryptQuant monitors confirmed that tokens including BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC maintained full backing at a minimum 1:1 ratio. Trading desks monitored order books closely as withdrawal queues cleared across major spot pairs.
Net Outflows Slow Following Earlier Panic
Binance recorded $3.29B in net outflows over a 24-hour period, reflecting a sharp decline of more than 50% from an earlier intraday peak near $7B according to DeFiLlama records. Initial user panic triggered roughly $733M in withdrawals during the first two hours of service restoration on November 1st. On-chain statistics from CryptQuant showed a single-day net outflow tally reaching -16,021 BTC.
Total exchange-held reserves stabilized at approximately $127.78B across multi-chain wallets. Proof of Reserves filings published on October 31st showed a noticeable drop in USDT and Ethereum balances. Bitcoin reserves moved in the opposite direction, posting a slight increase as traders repositioned spot collateral.
Attacker Launder Stolen Funds via Mixers
Blockchain intelligence firm Elliptic reported that the hacker responsible for the $6.3B exploit funneled 28 BTC through CoinJoin privacy protocols. Stolen funds have moved across approximately 12,000 wallets spanning 11 blockchain networks in excess of 40,000 separate transactions. Law enforcement agencies and security contractors continue tracking the fragmented capital flows across decentralized mixing pools.
Approximately $3.24B in theft-linked assets remains parked inside uncompromised attacker addresses, primarily denominated in Bitcoin and Ethereum. Security teams successfully froze roughly $2.85B of the pilfered funds before transfer paths became obscured. Compliance officers coordinate directly with major liquidity venues to block tainted token deposits.
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