# Binance: $3.64B net outflow as phase-one withdrawals reopen > All 15 phase-one networks are back on Binance. The exchange reported a net outflow of about $3.64 billion through 15:30 UTC, 2.1% of assets under management. - **Source:** https://ptycoin.com/en/posts/2026-11-01-binance-withdrawals-95-nov1/ - **Published:** 2026-11-01 - **Category:** News - **Author:** Mateo - **Tags:** exchanges, security, binance - **Also published in:** [Español](https://ptycoin.com/es/posts/2026-11-01-binance-withdrawals-95-nov1/) --- Bitcoin withdrawals are moving again on Binance. On Sunday, 1 November, the exchange turned that service back on and opened the bitcoin network before the others. It scheduled the opening phase for 06:00 to 09:00 UTC, 1:00 a.m. to 4:00 a.m. in Panama, and a network returns only after its own security and readiness checks. Deposits kept working while sends off the exchange were paused. The plan went out as [Recovery Update #4](https://www.binance.com/en/support/announcement/detail/73911fb819b240f88b88256bdd318eda) on the support site, and as a [post on X at 04:11 UTC](https://x.com/binance/status/2116744986096292263), before the window. At 06:20 UTC [Binance wrote](https://x.com/binance/status/2116777408074600621), "First batch network now opened." According to the announcement, the phase covers 15 networks, ordered by withdrawal demand over the past week, so the routes people had been using come back ahead of the quiet ones. A [follow-up at 07:49 UTC](https://x.com/binance/status/2116799757507305516) said ether was back, with USDT and USDC, the two large dollar stablecoins, and that BNB, USDT and USDC were back on BNB Smart Chain. Further batches landed through the morning. At 12:36 UTC Binance said the phase-one group was enabled. [At 16:12 UTC the exchange added](https://x.com/binance/status/2116926305254133892) that, by 12:36 UTC, withdrawals were open again on every network and asset in that group of 15. The [12:36 note](https://x.com/binance/status/2116871932075516174) is the list from that hour. Those posts show the order of the morning. Bitcoin's note hit at 06:20 UTC, inside the announced hours. Ethereum and BNB Smart Chain followed at 07:49 UTC, still inside them. A sender waiting on a network that appeared only on the 12:36 UTC list was in a later batch, and Binance still counted that batch as phase one. The opening hours had already ended. In the [16:12 UTC post](https://x.com/binance/status/2116926305254133892), Binance totaled the flows from 06:00 to 15:30 UTC. Outgoing transfers came to $4.649 billion. Incoming transfers came to $1.01 billion. The difference is a net outflow of about $3.64 billion, equal to 2.1% of the $171 billion in assets under management in its proof-of-reserves data from 28 October. Withdrawals surged at the reopen, then eased, and Binance said they are settling. Deposits stayed high across the same stretch. The exchange said market conditions are stable. Coins outside this wave stay on their networks until Binance opens them. That post said testing on the rest is still going, and that the next phase has no published hour. Binance warned that the morning would be busy. A crowded network can slow a withdrawal or cause it to fail. Binance told users to try again, and to look at the withdrawal screen for the asset and network they chose, or at the network status page, before treating a route as live. The coverage figure moved with the restart. In Update #4, Binance said it has now covered about 95% of the impacted amount. A day earlier it had put that covered share near 90%. At 03:04 UTC, still before the window, the exchange [said on X](https://x.com/binance/status/2116728061765034338) that the covered amount had reached $6 billion. [Reuters](https://au.investing.com/news/stock-market-news/binance-resumes-bitcoin-ether-withdrawals-after-covering-bulk-of-stolen-63-billion-4731668) described a theft of about $6.3 billion and said Binance bought replacement tokens with company money. [CoinDesk](https://www.coindesk.com/markets/2026/11/01/binance-opens-crypto-withdrawals-in-phases-starting-with-bitcoin-following-usd6-3-billion-hack) reported the same phased restart, with bitcoin leading it. The 95% measures replacement coins. In the announcement they are assets Binance has gathered so the balances customers see have matching coins behind them again. [TokenPost](https://www.tokenpost.com/news/technology/45797) said the percentage counts assets the exchange has replaced. Crypto seized from the attacker is a separate tally. About 5% is still open. Binance said those tokens sit outside ten assets it now calls fully backed, and that they trade in thinner markets, so buying them in the size required takes longer. The ten named in the announcement are bitcoin, ether, USDT and BNB. The list goes on with solana, USDC, XRP, USD1, RLUSD and ZEC. Binance pointed to a snapshot on its [proof-of-reserves site](https://www.binance.com/en/proof-of-reserves), where it posts the wallets it says stand behind customer balances. Binance said the company will carry the cost of the stolen funds. The loss is not passed through to users. The reserves list changed with the reopening. Binance [published](https://x.com/binance/status/2116785774540787920) newly generated wallet addresses and said withdrawals are now sent from those addresses. A reserves snapshot was recorded at 00:00 UTC on 31 October, and computing the zero-knowledge proof for that snapshot has started. Binance expects the updated report on its [proof-of-reserves site](https://www.binance.com/en/proof-of-reserves) on 2 November. A customer can then test whether their own balance sits inside the reserve total. Yi He, a Binance co-chief executive, [wrote on X](https://x.com/heyibinance/status/2116864322412720171) at 12:05 UTC that a community rewards campaign has to clear a regulator before it can start, and that the review would come only after offices open on Monday. She said no cash-voucher campaign is running, and she told users to watch for phishing and scam links. Saturday's FBI alert, [reported here](/en/posts/2026-10-31-binance-fbi-tradertraitor-oct31/), attributed a theft above $6 billion to North Korea and called the activity TraderTraitor. [CBS News](https://www.cbsnews.com/news/binance-crypto-heist-withdrawals/), with AFP, reported the Sunday restart for bitcoin and ether. By 5:35 a.m. Eastern its story had bitcoin, ether, BNB, XRP, Base, dogecoin and Optimism restored, and said further phases were still ahead. Reuters said bitcoin returned shortly after 06:00 UTC, with ether, BNB and some of the dollar stablecoins behind it. Binance said a full report on the incident will follow once the investigation is done. --- ## Keep reading - [Is SMS 2FA enough to protect your crypto exchange account? The text code follows your phone number, and a SIM swap or port-out can move that number before the authenticator app, the withdrawal allowlist, and the anti-phishing code are on](https://ptycoin.com/en/posts/2026-10-27-exchange-account-2fa-withdrawal-allowlist/index.md): SMS codes follow the phone number, so a SIM swap can take them. Switch to an authenticator or a passkey, turn on a withdrawal allowlist, and set an anti-phishing code. - [What is a destination tag or memo? On XRP, Stellar, Cosmos and similar networks the receive address alone is not enough, and a missing or wrong tag is how exchange deposits look confirmed on-chain while the desk never credits you](https://ptycoin.com/en/posts/2026-09-22-destination-tag-memo-exchange-deposit/index.md): Your exchange deposit needs both address and destination tag or memo. Miss either and the chain can confirm while your balance never updates. Copy both, check twice, then send. - [Self-Custody 101: Moving Your Crypto Off an Exchange Safely](https://ptycoin.com/en/posts/2026-06-05-self-custody-101-moving-crypto-off-exchange/index.md): Take control of your cryptocurrency. This step-by-step guide shows beginners how to safely move crypto from an exchange into a hardware wallet you control, with concrete checks that prevent the most common — and costly — mistakes. --- Source: PTYcoin — https://ptycoin.com/en/posts/2026-11-01-binance-withdrawals-95-nov1/. Free to read and cite with attribution to ptycoin.com. AI-usage terms: https://ptycoin.com/en/ai-usage/