Cryptocurrency exchange Binance has begun phased restoration of user withdrawals following a recent security incident, recording a net outflow of approximately $3.64 billion, the company said on Monday.
The platform began reopening withdrawals at 0600 GMT on Sunday, restoring services across 15 networks and assets within six and a half hours, according to a statement on X.
Between 0600 GMT and 1530 GMT on Sunday, Binance processed $4.65 billion in withdrawals and $1.01 billion in deposits.
The resulting net outflow represented 2.1 percent of the exchange’s $171 billion in total assets under management, based on its reserve data from October 28.
“After an initial spike, withdrawal volumes have declined and are stabilising as expected, while deposit volumes have remained substantial,” Binance said.
Further restoration planned
The exchange said market conditions remained stable, while technical teams were testing remaining networks and assets ahead of the next phase of service restoration.
Binance added that an updated proof-of-reserves report, based on a snapshot taken on October 31, would be published on Tuesday after the completion of cryptographic calculations.
