A post on X dated November 15, 2026 claims Binance sold more than $1.767 billion worth of bitcoin in 24 hours to repay the funds stolen in the October attack. The message attaches no verifiable data, neither a wallet address nor an analysis of movements recorded on the blockchain, so the figure remains an unconfirmed claim.

Binance is the world's largest cryptocurrency exchange (that is how Khaleej Times' coverage describes it): account holders buy, sell and store bitcoin and other digital coins there. On October 29 it suffered a theft of roughly $6.3 billion, the biggest ever recorded in the industry, which the FBI attributes to the North Korean group TraderTraitor. We reconstructed the sequence in our piece on the Binance attack, while the origin of the intrusion is in the account of the fake job interview.

What the Post Claims

The message, written in Arabic by an account that recirculates crypto news, strings together three claims. Binance supposedly sold more than $1.767 billion worth of bitcoin in a single day. After the attack it had promised to restore 100% of the reserves. And to find the roughly $6 billion it would be offloading what it holds, perhaps pocketing even more from liquidations (the forced closing of users' leveraged positions when prices fall).

The post stops there. There is no link to a dashboard, no wallet address, no name of an analytics firm. The part about liquidations, for its part, is phrased as a hypothesis and carries no proof.

What Binance Said About the Repayment

The post's question (where do the $6 billion come from?) already had a partial answer two weeks ago. On Friday, October 30, the exchange said it had set aside $6.34 billion to cover the losses, including $5 billion in the affected cryptocurrencies. The following day it had replaced 90% of the stolen assets, according to Cointelegraph; by November 1 it was at 95%. Khaleej Times reports that about 6 billion in tokens had been replaced with company money.

The money came from the corporate treasury, from a partial use of SAFU (the emergency fund Binance keeps in bitcoin to protect users from breaches) and from part of the futures insurance fund. A spokesperson did not specify how much each source contributed. CertiK, a security firm, said for its part that it needs more information to verify the $5 billion declared.

So some bitcoin was indeed used. The SAFU wallet moved 7,499 BTC on October 31 and about 7,500 remain ($583 million at that day's price), as another Cointelegraph piece reconstructs. An outflow of that size exists, but it weighs less than a third of the figure in the post and dates back two weeks.

As for the promise, Binance repeated that the company absorbs the impact, not its users. It published a proof of reserves snapshot: ten assets, including bitcoin, ether and USDT, covered at least 1 to 1. A proof like that photographs a single instant and guarantees nothing about the future.

Selling Versus Letting Others Sell

On an exchange, most sales are made by customers, not by the company. If billions of dollars' worth of bitcoin changes hands on Binance's market in 24 hours, that volume measures user activity. Someone who writes "Binance sells" can therefore mean four different things: customer volume, forced liquidations, internal transfers between wallets, or an actual sale from the treasury. The post doesn't say which.

The counts, moreover, change depending on what is included. As we saw in the piece on the $12 billion that left in seven days, internal movements between hot and cold wallets, transfers to third-party custodians and reserves shifted to buy back the stolen tokens all land in a different count from customer withdrawals. After the reopening of withdrawals, confusion between the two readings became the norm.

The most cited figure these days comes from CryptoQuant, as reported by Bitcoin.com. As of November 8, Binance's bitcoin exchange reserves had fallen from about 730,000 to 673,700 BTC (down 7.7%, a difference of $4.2 billion at a price of $75,800), with a peak daily net outflow of 22,000 BTC. The drop is real, but a different thing from a sale: the figure adds up customers' bitcoin and the company's own, and anyone who withdraws a bitcoin from the platform hasn't sold it.

The fact remains that Binance bought many different tokens in a hurry. Cointelegraph notes that the replacement purchases went through the open market and OTC deals, that is, direct agreements between two counterparties, settled outside the public order book. Those transactions leave fewer traces visible in real time. That is why a number tossed out for a single day is hard to disprove; for the same reason, it can't be confirmed.

Why Did Bitcoin Fall This Week?

Bitcoin lost about 8% in a week, sliding from $75,850 to $69,000-70,000, with a low of $67,700 on Friday morning (the lowest level since August). The weekly Bitcoin.com newsletter lists tightening liquidity, the shock at Nvidia and sales by listed companies as causes.

Liquidity first. The supply of USDT (Tether's stablecoin, pegged to the dollar) shrank by $6.6 billion in 60 days. About $7 billion left stablecoins after the Binance attack, the sharpest drop since 2022. Spot bitcoin ETF flows are negative on a rolling 12-month basis, while listed companies that hold bitcoin sold 11,647 net between November 2 and 8 (about $869 million). MSCI decided to remove Strategy from its US index at the close on November 30.

Then there's Nvidia. On Thursday Jensen Huang announced his resignation as chief executive, with chief financial officer Colette Kress taking over as interim, while the petition to bring him back to the company passed 130,000 signatures. The week's slide wiped out roughly $490 billion of the stock's market value. For the newsletter's author, the affair is the direct cause of bitcoin's decline.

These are readings from a weekly commentary, not measures of cause and effect. They hold up as long as each individual figure stays verifiable, which nearly all of them do, but nobody has weighed how much each factor counts.

Limitations to keep in mind

  • The $1.767 billion figure has no public source. Without addresses, charts or an analytics firm to confirm it, it's unclear whether it is a Binance sale, customer volume or the effect of liquidations, so it should not be used as data.
  • Binance has not said how much of its treasury is in bitcoin or how much of it was used. Treasury sales are possible, for an amount no statement quantifies; the only confirmed bitcoin movement is the 7,499 BTC from SAFU.
  • The drop of about 56,000 BTC in Binance's reserves adds up customers and company. It says that bitcoin left the platform, not that anyone sold it; the figure comes from a single source (CryptoQuant, as reported by Bitcoin.com) with data as of November 8.
  • The causes of bitcoin's decline come from a commentary newsletter. They are reasonable hypotheses, with figures checkable point by point, but nobody has measured the weight of each factor.

A viral post, in short, that stitches together an unsourced number, a promise Binance had already covered at 95% two weeks ago and a hunch about liquidations. Bitcoin is falling for reasons that show up in stablecoin flows and Nvidia's books. A duller story, but a documented one.

Frequently Asked Questions (FAQ)

Just over 25,000 BTC. With bitcoin between $69,000 and $70,000, $1.767 billion corresponds to about 25,300 BTC. For comparison, the SAFU fund moved 7,499 BTC toward the repayment, barely a third of that amount.

You need addresses, movements and prices. Analytics firms such as Arkham and CryptoQuant label Binance's wallets; a verifiable claim says which outflows to other platforms or OTC desks were seen in the 24 hours cited, and at what price. Without a link to one of these sources, the number can be neither confirmed nor disproved.

Yes, for the most part. Binance reopened withdrawals of bitcoin, ether and some stablecoins on November 1 with a first phase of 15 assets, then widened the list. On November 8 HYPE and APT came back, while the other networks remain subject to individual security checks, according to Bitcoin.com.

  1. Binance hacked, $6.3 billion stolen, North Korea suspected
  2. Chainalysis reveals automated laundering in the Binance hack
  3. Binance reopens withdrawals, FBI confirms North Korea behind the hack
  4. Binance bled $12 billion in seven days, now the money is coming back
  5. After the Binance hack, CZ claims banks are in a worse position
  6. Binance's $6.3 billion hack began with a fake job interview
  7. Did Binance sell $1.77 billion in bitcoin? The viral post cites no source (you are here)

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