Last week, the leading cryptocurrency trading platform Binance was hacked, resulting in the loss of approximately $6 billion in crypto assets—marking the largest cryptocurrency hack and theft in history to date.
To contain the emergency, Binance temporarily blocked users from withdrawing their crypto assets while they investigated how the breach occurred and worked on a fix. A few days later—yesterday, November 1, 2026—the platform began allowing crypto withdrawals again in a phased rollout, starting with select types of cryptocurrencies.
Within the first 9–10 hours of withdrawals resuming, Binance reported that users had withdrawn crypto assets worth approximately $4.65 billion, while $1.01 billion in crypto was deposited. In terms of net outflows, Binance stated the total amounted to $3.64 billion.
Binance noted that this figure represents 2.1 percent of the $171 billion in crypto assets they hold, based on their "proof-of-reserves" data updated on October 28. They further stated that although the platform experienced a high volume of withdrawals, the situation has since stabilized, and users are now able to deposit and withdraw all their assets without any issues.
