Binance Wallets Swing Back to $1.8B Inflows, but the Week Still Bleeds
Binance's tracked wallets flipped to $1.822 billion in net inflows over 24 hours, per DefiLlama, reversing the daily outflows that followed its post-hack withdrawal restart. The seven-day picture is still brutal: $11.832 billion in net outflows, a window that swallows the hack, the freeze and the reopen.
Binance's tracked wallets flipped positive. DefiLlama's exchange dashboard, viewed at 4:00:47 a.m. ET on Nov. 3, showed $1.822 billion in net inflows over the trailing 24 hours — a reversal from the daily outflows logged after the exchange restarted withdrawals following a hack.
Zoom out and the bleeding hasn't stopped. The same dashboard showed $11.832 billion in net outflows across seven days, with $127.699 billion in wallet assets tracked. That weekly window covers the hack, the withdrawal suspension and the reopening, so it isn't a clean read on customer behavior since withdrawals came back.
The daily snapshots have whipsawed. The Defiant reported rolling 24-hour net outflows of $4.54 billion at 4:20 p.m. ET on Nov. 1, then $5.142 billion at 6:24 a.m. ET on Nov. 2. Those are rolling windows, not calendar-day totals — so each reading tells a slightly different story.
What does a green number actually mean? DefiLlama measures dollar inflows by tracking changes in token balances valued in dollars, stripping out moves driven by price. Positive net means tracked inflows topped outflows; it does not mean withdrawals stopped. It also doesn't reveal whether customers who fled have returned, or why funds showed up.
There's a bigger caveat baked in. Net changes across tracked wallets say nothing about individual customer decisions, and wallet totals alone don't prove an exchange holds enough to cover what it owes customers. Binance said it started restoring withdrawals in phases on Nov. 1, after suspending them in the wake of a hack it estimated at roughly $6.3 billion in impact.
Binance is trying to answer the trust question with math. In a Nov. 2 update, it said it finished the cryptographic proof for a reserve snapshot taken at 8 p.m. ET on Oct. 30, covering 10 tokens, letting holders verify their balances were backed at least one-to-one. Another snapshot lands Nov. 4 UTC with more tokens in scope, followed by an estimated 40 to 50 hours of proof computation.
TopicsBinance · DefiLlama · The Defiant
Written by Paparazzi with AI. Not financial advice.