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The Exodus Slows

Binance’s Outflows Halve From Their $7B Peak as It Replenishes 95% From Its Own Pocket — the Reserve Proof Is Claimed, Not Yet Verifiable

Verified · 3 Nov 2026Institutional TransitionNov 3, 2026

A ~$6B hack of Binance is triggering emergency freezes, DeFi contagion, regulatory calls, and a partial recovery effort across the crypto ecosystem.

Binance’s daily net outflows fell to ~$3.29B, down more than half from a ~$7B peak, per DeFiLlama data cited by The Block, as withdrawals reopened in phases across BSC, Ethereum, Solana and XRP; its bitcoin balance fell under 3%. Binance says ~95% of affected assets are replenished from its own funds — CZ: no borrowing, sales or raise — with the rest in less-liquid tokens. Its new 10-asset zero-knowledge reserve proof claims 1:1 backing; per-asset ratios and independent verification are still pending.

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Binance confirms recovery of $6.3 billion hack, says it will cover full loss

Lark Davis
18 sources