Binance sheds $5B in a day as rivals draw deposits

Photo: Rafael Minguet Delgado / Pexels

Binance's co-founder Changpeng Zhao said 98% of users chose to keep their funds on the exchange.

Mon 2 Nov 2026 · 04:21 EST · 2 min read

In Finance

Binance faced a sharp wave of withdrawals after restoring services following the Oct. 29 hack, which drained an estimated $6.3 billion from the exchange.

According to data from DefiLlama, Binance saw more than $5 billion exit its platform in the last 24 hours, sharply exceeding the inflows recorded by other major crypto exchanges.

OKX gained $332 million over the same period, while Bybit, Gate and Bitget attracted $63 million, $85 million and $38 million, respectively. Bitfinex and Gemini recorded outflows of $30 million and $10 million.

Binance’s daily withdrawals extended its seven-day net outflows to nearly $14 billion and its monthly losses to $12.6 billion. The exchange nevertheless held nearly $128 billion in assets at the time of writing, more than four times OKX’s $29 billion.

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Bitfinex recorded the largest 30-day inflow among the other platforms at $869 million, ahead of OKX’s $757 million.

While outflows remained elevated, Binance said withdrawal activity was showing signs of stabilization.

Co-founder Changpeng “CZ” Zhao said in a statement that only 2.1% of Binance funds left the exchange in the first 12 hours after withdrawals were restored. Zhao added that 98% of users opted to stay on Binance.

12 hours after withdrawals resumed: 2.1% net outflow, with most occurring in the first couple of hours. Over $1 billion in flow, too. 98% choose to stay! Trust isn’t earned by what you say in good times. It’s earned by what you do in hard times. Thank you for your trust!… https://t.co/r3f6s9c2fy — CZ 🔶 BNB (@cz_binance) November 1, 2026

Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.