# Binance Sees $3.64 Billion Net Outflow Following Massive Security Breach Users withdrew billions as Bitcoin price stability sparks comparisons to post-FTX market recovery patterns. - **Source:** [CryptoPotato](https://brifing.si/source/bd22636b-ec8d-42a8-8cca-1937c50e0f6c) - **Published:** 2026-11-01 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/bf5fa2c6-ff80-4e8e-a734-baff5226d764 ## Massive Withdrawal Volume Recorded Binance reported net outflows of approximately $3.64 billion following the resumption of withdrawal services. Between 06:00 and 15:30 UTC, users requested $4.649 billion in withdrawals against $1.01 billion in deposits. This volume represents roughly 2.1% of the exchange's $171 billion in assets under management, as confirmed by the October 28 Proof of Reserves data. ## Operational Restoration and Stability Withdrawal services began reopening at 06:00 UTC, with 15 networks becoming fully operational within five hours. While activity surged immediately upon the service restoration, Binance noted that withdrawal requests subsequently declined and stabilized. The exchange is currently testing remaining networks and assets before initiating the next phase of full platform restoration. ## Addressing the Record Hack The withdrawal surge followed a $6.3 billion hack that occurred on Friday, marking the largest security incident in USD terms in crypto history. Binance has pledged to absorb all losses internally rather than passing them to customers. The company confirmed it has already successfully replenished approximately 95% of the affected user assets. ## Market Price Resilience Observed Despite the massive security incident and significant capital outflows, Bitcoin prices remained relatively stable near $78,000. This follows a volatile period where BTC tumbled from $81,000 to a six-week low of $76,000, triggering $1.5 billion in liquidations. The asset's ability to maintain its price level has drawn significant attention from market analysts. ## Historical FTX-Era Comparisons Analysts like DonAlt are drawing parallels between current market behavior and the post-FTX collapse period four years ago. During the 2022 meltdown, Bitcoin dropped to $16,000 but failed to decline further despite widespread bearish expectations. This lack of additional selling pressure eventually preceded a significant rally that pushed Bitcoin prices above $100,000. ## Analyst Sentiment Shifts Bullish The current market setup has led analysts to adopt a 'giga bullish' stance, citing the failure of the asset to crash further despite negative news. KALEO echoed these sentiments, warning investors against repeating the mistakes of November 2022, when many remained bearish while Bitcoin climbed steadily toward the $100,000 threshold. ## Risk Management and Reserves Binance's ability to manage $4.6 billion in withdrawals while maintaining operational integrity highlights the importance of its Proof of Reserves. By utilizing internal funds to cover the $6.3 billion hack, the exchange aims to maintain user trust and prevent a liquidity crisis. Deposits remained stable throughout the entire restoration process. ## Implications for Market Sentiment The resilience shown by Bitcoin during this liquidity event suggests that market participants are currently prioritizing long-term accumulation over short-term panic. If the current stability holds, it may confirm a bottoming process similar to previous cycles. Investors are now watching the next restoration phases to ensure total platform security and stability. ## Sources covering this story - https://cryptopotato.com/heres-how-much-binance-users-withdrew-as-bitcoin-bulls-spot-an-ftx-era-signal/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._