Binance Withdrawal Rush – Why the Numbers Don’t Match

On Nov. 1, Binance reported about $3.6 billion in net outflows over the 9.5 hours after it resumed withdrawals, processing roughly $4.65 billion in withdrawals and $1.01 billion in deposits between 06:00 and 15:30 UTC. DefiLlama estimated about $4.05 billion in net outflows over a 24-hour window ending 16:37 UTC, but that period began more than 13 hours before Binance’s first withdrawal and covers about $131 billion in attributed wallets, compared with the $171 billion assets figure Binance used. Binance had frozen withdrawals after an Oct. 29 attack in which $6.3 billion was stolen and said it had covered most of that amount before restarting. Most coins remained suspended on Sunday afternoon.