--- title: Binance Sees $5.3B Net Outflows After Record Hack as CEO Reports Recovery url: >- https://www.cryptocatalyst.news/articles/2026-11-03-binance-sees-53b-net-outflows-after-record-hack-as-ceo-reports-recovery canonical: >- https://www.cryptocatalyst.news/articles/2026-11-03-binance-sees-53b-net-outflows-after-record-hack-as-ceo-reports-recovery date: '2026-11-03T14:03:55.297055+00:00' category: bitcoin tags: - binance - exchange - hack - outflows - bitcoin-etfs source: CoinDesk source_url: >- https://www.coindesk.com/business/2026/11/03/binance-net-outflows-reach-usd5-3b-after-record-hack-though-ceo-cites-recovery sources: - name: CoinDesk url: >- https://www.coindesk.com/business/2026/11/03/binance-net-outflows-reach-usd5-3b-after-record-hack-though-ceo-cites-recovery - name: The Block url: >- https://www.theblock.co/news/business/2026-11-01-binance-sees-3-64-billion-in-net-outflows-after-reopening-withdrawals-following-record-hack-432259 - name: The Block url: >- https://www.theblock.co/news/markets/2026-11-01-spot-bitcoin-etfs-largest-four-months-following-binance-hack-432270 publisher: CryptoCatalyst summary: >- Binance recorded $5.3 billion in net outflows after a record hack. CEO Richard Teng says deposits are now beginning to exceed withdrawals each hour. image: >- https://www.cryptocatalyst.news/images/articles/2026-11-03-binance-sees-53b-net-outflows-after-record-hack-as-ceo-reports-recovery.webp generated_by: automated editorial pipeline --- # Binance Sees $5.3B Net Outflows After Record Hack as CEO Reports Recovery Nearly $11 billion flowed out of Binance over 46 hours after a record hack, leaving net outflows of $5.3 billion. CEO Richard Teng says the pace is easing: hourly deposits have begun to exceed withdrawals, though the exchange has not said the episode is over. ## Key takeaways - Binance recorded $5.3 billion in net outflows over 46 hours after a record hack. - Nearly $11 billion flowed out of Binance during the 46-hour period. - CEO Richard Teng said hourly deposits were beginning to exceed withdrawals. - The Block reported an earlier $3.64 billion in net outflows, equal to 2.1% of Binance’s $171 billion in assets. - US spot bitcoin ETFs saw $643 million in outflows on Friday, their largest single-day total since June 25. Binance saw $5.3 billion more leave the exchange than enter during the 46 hours after a record hack, according to the reported figures. Total withdrawals and deposits were much larger: nearly $11 billion moved out during that period, as users reacted to the security incident and resumed withdrawing funds. CEO Richard Teng said hourly deposits were beginning to exceed withdrawals, a sign that the immediate rush to exit may be cooling. That does not erase the net outflow or establish how users will behave over the longer term. ## How large were Binance’s outflows? A separate report from The Block put Binance’s net outflows at $3.64 billion after the exchange reopened withdrawals. The exchange said that figure represented 2.1% of its $171 billion in assets, and that withdrawal volumes had fallen after an initial surge. The figures describe different snapshots, so they should not be treated as direct contradictions: the $3.64 billion figure was reported after withdrawals reopened, while the later headline figure covers 46 hours. Together, they show both the scale of users’ initial response and the continuing movement of funds. ## What does this mean for Binance users? For customers, outflows are a measure of money moving off the exchange, not proof that Binance cannot meet withdrawals. Teng’s comment about deposits overtaking withdrawals hourly offers a positive short-term signal, but it does not by itself establish that the security issue has been fully resolved or that confidence has returned. This episode also reached beyond Binance: US spot bitcoin ETFs recorded $643 million in outflows on Friday, their largest one-day withdrawal since June 25, according to The Block. That timing links the exchange shock with a broader pullback in crypto investment products, although the available reporting does not show that the hack alone caused ETF investors to sell. For anyone deciding where to keep crypto, the practical question is whether they need immediate access on Binance and whether they are comfortable with exchange custody while the incident is addressed. Watch for concrete updates on the hack and whether the exchange’s net flows remain positive—not just a single hour of deposits exceeding withdrawals. ## FAQ ### How much money flowed out of Binance after the hack? Binance recorded $5.3 billion in net outflows over 46 hours. Nearly $11 billion left the exchange during that period, before accounting for funds deposited back in. ### Are Binance users still withdrawing funds? The reported outflows show substantial withdrawals, but CEO Richard Teng said hourly deposits were beginning to exceed withdrawals. That is a short-term signal, not proof the situation is resolved. ### Did the Binance hack affect bitcoin ETFs? US spot bitcoin ETFs recorded $643 million in outflows on Friday, their largest single-day outflow since June 25. The timing followed the hack, but the reporting does not establish that it was the sole cause. ## Sources This article synthesizes reporting from [CoinDesk](https://www.coindesk.com/business/2026/11/03/binance-net-outflows-reach-usd5-3b-after-record-hack-though-ceo-cites-recovery), [The Block](https://www.theblock.co/news/business/2026-11-01-binance-sees-3-64-billion-in-net-outflows-after-reopening-withdrawals-following-record-hack-432259), [The Block](https://www.theblock.co/news/markets/2026-11-01-spot-bitcoin-etfs-largest-four-months-following-binance-hack-432270), written by an automated editorial pipeline. See https://www.cryptocatalyst.news/editorial-policy. ## How to cite CryptoCatalyst.news, "Binance Sees $5.3B Net Outflows After Record Hack as CEO Reports Recovery", 2026-11-03, https://www.cryptocatalyst.news/articles/2026-11-03-binance-sees-53b-net-outflows-after-record-hack-as-ceo-reports-recovery