2.1%. That's the share of its assets Binance customers pulled in the first 9.5 hours after the exchange began reopening withdrawals in…

2.1%. That's the share of its assets Binance customers pulled in the first 9.5 hours after the exchange began reopening withdrawals in phases on Sunday, November 1, following the record $6.3 billion hack.

The update since my last post: the FBI says North Korea's state-sponsored TraderTraitor unit was behind it, though President Trump later said it remained unclear whether North Korea was involved. Binance says it has covered 95% of the stolen assets and will bear the financial impact.

Net outflows came to $3.64 billion in that window, but Binance says withdrawals are stabilising after an initial spike and that deposit volumes have stayed substantial.

After last week's roughly $100 billion market-wide wipeout, I was half expecting a proper run on the exchange. What showed up so far looks more like people logging in to confirm their money is still there, moving some of it, and leaving the rest. A 2.1% net outflow in the first hours after the largest hack on record is a pretty muted reaction, with the caveat that withdrawals are still coming back in phases.

Markets are edging up. Bitcoin is at $78,370, up 0.78% over 24 hours after a six-week low on Friday, and Ether is at $2,291.62, up 1.07% after a two-month low. My open question from last week was whether this was the capitulation-then-bottom script playing out again.

A small bounce and steady deposits lean that way, but USDT and USDC have shrunk by about $1.2 billion combined since Friday, and I'd want a few more weeks of data before calling it. $BTC

Source:
CNBC/Reuters: https://www.cnbc.com/2026/11/02/dollar-rangebound-ahead-of-us-midterms-bitcoin-reels-from-crypto-heist.html

Not financial advice. For informational and educational purposes only.