Binance reports $11 billion withdrawn in 46 hours as Zhao says few funds went to rivals
AI summary
Binance reported about $11 billion in withdrawals between 06:00 UTC on Nov. 1 and 04:00 UTC on Nov. 3, after reopening following its record $6 billion hack on Oct. 29. Deposits of about $6 billion offset just over half the withdrawals, leaving roughly $5 billion in net outflows over the period. CEO Changpeng Zhao said few of those funds went to rival exchanges, a sign the outflows reflect caution toward Binance specifically rather than a broad rotation into competitors.
