Binance reports $11 billion withdrawn in 46 hours as Zhao says few funds went to rivals

Binance reported about $11 billion in withdrawals between 06:00 UTC on Nov. 1 and 04:00 UTC on Nov. 3, a period that began after the company reopened services following a record $6 billion hack on Oct. 29. Deposits of about $6 billion covered just over half of those withdrawals, reducing the net outflow to roughly $5 billion during the same interval. Net outflow refers to the amount left after deposits are subtracted from withdrawals.