Binance recorded about $3.64 billion in net outflows early on Sunday as the exchange resumed user withdrawals following last week's massive $6.3 billion hack, according to Seeking Alpha.
Binance Sees $3.64 Billion Outflow Following Record Crypto Heist
Binance users withdrew $3.64 billion after access resumed following a $6.3 billion hack, raising liquidity and sentiment concerns.
The massive capital flight underscores heightened counterparty anxiety across digital asset markets following the largest cyberattack in cryptocurrency history. As platform operations resume, market participants are closely monitoring exchange liquidity and broad spot market stability to evaluate whether user panic will subside or trigger broader structural contagion across centralized trading venues.
Capital Outflows Follow Platform Reopening
The capital flight began immediately after Binance restored transaction functionality early on Sunday, according to Seeking Alpha. The exchange had temporarily suspended account access and asset transfers late last week to investigate the security breach and secure its infrastructure.
Trading desk activity and platform traffic surged as account holders moved funds off the exchange once withdrawal gates were opened. In live market trading, broader cryptocurrency assets showed mild pressure, with Cryptocurrency Coin (CRYPTO) trading at $0.00252, recording a 24h change -1.13% as of 2026-11-02T00:08Z.
According to Seeking Alpha, Binance confirmed that net outflows reached approximately $3.64 billion during the early hours of Sunday. The scale of the capital departure highlights the immediate loss of investor confidence following high-profile security incidents, as institutional and retail traders prioritize self-custody or alternative venues until full operational clarity is restored.
Rebuilding Trust After Record Security Breach
The recent capital drain follows what has been described as the largest heist in cryptocurrency history, involving a massive $6.3 billion security breach last week. The incident forced Binance, the world's largest digital asset exchange by trading volume, to freeze platform activities and implement emergency protocols to mitigate potential losses.
To manage system load and conduct security checks, Binance began restoring customer withdrawals in phases on Sunday, starting between 1 am and early morning operations. By staggering the restoration of services across different networks and token assets, the exchange sought to maintain operational stability while processing the backlogged request queue.
Despite the phased rollout, the volume of funds leaving the platform quickly accumulated to $3.64 billion early on Sunday. The event represents a critical test for Binance's financial resilience and balance sheet reserves as it seeks to reassure users and stabilize capital balances in the aftermath of the record breach.
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