Binance Sees Net Inflows Rise Amid Growing User Activity
Cryptocurrency exchange Binance reports rising hourly deposits that are now outpacing withdrawals, signaling a recovery in user activity and stabilizing financial flows following a recent $6 billion security breach.
Hourly deposits on Binance are currently outpacing withdrawals, the cryptocurrency exchange announced on Tuesday. This turnaround indicates that platform engagement is beginning to recover in the wake of the $6 billion Binance hack. The transition occurred by 03:00 UTC on November 3, following several days marked by heavy withdrawals and billions of dollars in outgoing crypto transfers.
In the update confirming that incoming funds are exceeding withdrawals, the exchange stated:
“By 03:00 UTC, we are seeing hourly deposits exceed withdrawals, reflecting improving user activity and stabilizing flows.”
Binance Hack Recovery, $6 Billion Outflows and User Confidence
This milestone is significant because it follows a two-day period where capital moved predominantly in a single direction. Binance reactivated withdrawals in phases on Sunday, November 1—three days after the $6 billion security breach. With plans underway to reopen additional assets and networks, the platform’s internal metrics show that user engagement has since rebounded.
How Big Were The Binance Crypto Outflows?
During the initial nine and a half hours of reopened withdrawals, Binance processed $4.649 billion in outgoing funds against $1.01 billion in deposits. This resulted in a net outflow of roughly $3.64 billion, representing 2.1% of its $171 billion in total assets. Co-founder Changpeng “CZ” Zhao noted on X that the vast majority of these net outflows occurred during the first couple of hours when post-hack withdrawals peaked.
Looking at the broader trend, Binance’s hourly chart spanning from 06:00 UTC on November 1 to 04:00 UTC on November 3 recorded $10.97 billion in total crypto outflows compared to $5.695 billion in deposits, leaving a net outflow of $5.276 billion. The single worst hour took place at 08:00 UTC on November 1, when withdrawals reached $1.243 billion and net outflows hit $936 million. USDT, USDC, and BTC accounted for the largest portions of user withdrawals.
The gap between inflows and outflows steadily narrowed thereafter. Binance recorded net deposits across six separate hours between November 2 and early November 3. During the 03:00 UTC hour specifically, the exchange brought in $193 million in deposits compared to $183 million in withdrawals, underscoring why the shift toward positive hourly net flows is currently drawing widespread attention.
How Binance Is Covering The $6 Billion Hack
Binance maintains that it is absorbing the financial losses using corporate reserves and its Secure Asset Fund for Users (SAFU). Co-CEO Richard Teng gave this assurance shortly after the $6 billion incident, stating:
“We are committed to covering all hacked losses through our company funds.”
By Sunday, the exchange had covered approximately 95% of the stolen funds—up from roughly 90% the day before—and continues to acquire the remaining, less liquid tokens through open-market and over-the-counter transactions. Major cryptocurrencies including BTC, ETH, USDT, BNB, SOL, USDC, and XRP are fully backed at 100%. Management also intends to restore the SAFU balance to roughly $1 billion. When withdrawals resumed, Teng emphasized:
“Binance will absorb the financial impact of the stolen funds, not our users.”
Users are now putting that commitment to the test, and the fact that deposits are outpacing withdrawals suggests many customers are choosing to remain on the platform.
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What It Means For Binance Users
The current dominance of deposits over withdrawals serves as the strongest indicator yet that the rush to pull funds has subsided. At the time of writing, platform activity is recovering, and the wave of hack-driven withdrawals appears to have been a temporary surge rather than a permanent exodus. While a $3.64 billion net outflow in under ten hours represents a substantial sum, it equates to just 2.1% of the $171 billion in assets Binance reported prior to the attack, and overall outgoing flows have since cooled.
Although incoming funds currently exceed withdrawals, Binance still needs to complete the acquisition of the remaining missing tokens and publish its updated proof-of-reserves audit.
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