After the $6.34 billion Binance hack, net outflows from the exchange’s wallets reached about 28,316 BTC. Santiment tracked those flows through Nov. 5. Its Nov. 6 report showed that traders still held billions of dollars in futures positions.
How the Binance Hack Affected Exchange Flows and Trading
Binance began reopening withdrawals on Nov. 1. Bitcoin balances across tracked exchanges fell 2.92% from Oct. 25 to Nov. 5. The 38,631 BTC decline began four days before the breach.
According to a report, Bitcoin drew about 2.7 negative comments for every positive one on Oct. 29 and 30. Futures open interest on the exchange fell after the Binance hack. By Nov. 5, it stood near $8.97 billion for Bitcoin and $8.03 billion for Ethereum.
Net USDT outflows on Ethereum hit 3.94 billion tokens across tracked exchanges on Nov. 2. The Oct. 29 reading totaled 1.71 billion. That day, 169 addresses withdrew ENA in one hour, compared with about 20–25 in many nearby hours.
Where Asset Recovery Stands
However, Binance said on Nov. 4 that it had replaced about 98% of affected assets. The company used its own funds and kept buying the remaining tokens. A new reserve snapshot covered 44 tokens, up from 10.
The exchange asked Arbitrum’s DAO to release funds frozen after the Binance hack. Its request covers 8,425.997 ETH and 74.56 million ARB. Binance estimated the process could take seven weeks or longer.
Related: Coinbase Sets December Deadline for ZetaChain Token Migration
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