Binance net outflows reach $5.3 billion after record hack. CEO says recovery underway
Nearly $11 billion left the exchange over 46 hours, although CEO Richard Teng said hourly deposits were beginning to exceed withdrawals.
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Nearly $11 billion left the exchange over 46 hours, although CEO Richard Teng said hourly deposits were beginning to exceed withdrawals.
Your day-ahead look for Nov. 3, 2026
But there’s a catch: validators that fail to deliver on their commitments currently face no financial compensation requirement under the service.
Bitcoin edged up 0.2% to around $76,900 since midnight UTC as spot ETFs lost $399 million for a second day and Binance customers pulled a net $4.72 billion.
A final 250 BTC transfer closed the hole left by September’s bug, but the federation behind the network still hasn’t said who paid to fill it.
Ardoino didn’t say where the extra coins sit. Holdings outside USDT reserves, such as Tether’s investments, wouldn’t appear in the report.
A fifth straight weekly decline would mark bitcoin’s joint third-longest losing streak, as oil rebounds and Apple’s margin warning adds to investor caution ahead of the U.S. midterms.
The high-profile denial follows FBI alerts identifying North Korean-controlled wallet addresses tied to the largest cryptocurrency exploit in history.
Partners like Tether, Circle, and Chainalysis helped freeze $11M of the stolen assets.
The Guppy Multiple Moving Average bands signal a bearish momentum, even as seasonality and post-midterm history lean bullish.
The user protection fund now sits below the $800 million level that Binance’s own rules say triggers a top-up, and the exchange hasn’t said when it will refill it.
The company's revenue dropped 63% in the third quarter, while a $127 million accounting gain helped turn an operating loss into a reported profit.
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