Binance wallets show $2.5B outflows after resuming withdrawals post-hack

On November 1st, Binance's monitored crypto wallets saw a net outflow totaling $2,510 million, a significant movement occurring after the exchange reactivated its withdrawal capabilities subsequent to the massive $6.3 billion security incident.

Data sourced from DeFiLlama reveals the composition of these outgoing funds, showing that approximately $1,083 million departed as USDT, while $912 million moved out in Bitcoin. Furthermore, the outflows encompassed $385 million in USDC and $131 million in wrapped Ethereum.

These substantial movements in the tracked wallets occurred concurrently with Binance's ongoing situation following the security breach.

Earlier coverage

• ETH Plunged 16% in October as Ethereum ETF Outflows Hit All-Time High Nov 1