Binance Rejects a $5.81B Outflow Count and Puts Its Own at $3.64B

Binance says the outflow figure being quoted is wrong. A DefiLlama dashboard put net outflows from the exchange at $5.81 billion over 24 hours, a reading Reuters carried on Monday morning, up from $4.36 billion. Binance's own count, posted to X, is $3.64 billion, covering the first nine and a half hours after withdrawals reopened on Sunday. A spokesperson told Reuters the dashboard leaves out money the exchange moved into a hot wallet it built after the theft. Neither side has published the arithmetic that would line the two up.

What the exchange says the dashboard misses

The objection is specific. Trackers read exchange balances off known wallet addresses, so a transfer to an address they do not know looks like a withdrawal. Binance stood up a new hot wallet after the 29 October breach. That is where the dispute sits.

"This figure does not contain the flows we have deposited to our own new hot wallet, so they are not accurate," a Binance spokesperson said.

Reuters alone carries that line. No account gives the wallet's address or the transfers into it, so the objection cannot be tested. Binance's own number has a gap too. It is $4.65 billion of gross withdrawals against $1.01 billion of deposits between 06:00 and 15:30 UTC on Sunday, with nothing published for the hours since. The Block, Bloomingbit and Reuters all put the net figure at about 2.1% of the $171 billion in assets Binance disclosed on 28 October.

Five readings of one rolling day

The trackers do not agree with each other either. Each of these is a 24-hour net outflow figure, with its dashboard and the hour read:

$4.05 billion, DefiLlama via The Block, 11:37 ET Sunday.
$4.5 billion, Whale Factor via Bitcoin.com, early Monday.
$4.911 billion, DefiLlama via PANews, 09:27 UTC Monday.
$5.8 billion, DefiLlama via Cointelegraph, 23:59 UTC Sunday.
More than $7 billion, DefiLlama via Cointelegraph, 08:56 UTC Monday.

The last is the largest and the thinnest. Cointelegraph is the only outlet here carrying it, and the Bloomingbit item repeating it credits Cointelegraph, so that is one account and not two. A rolling window shifts as its hours shift, so a climbing series would be unremarkable. This one does not climb. Monday's $4.911 billion sits below a $5.8 billion reading taken nine hours earlier. We could not establish which supersedes which.

OKX took the largest share of what left

Money leaving one exchange turns up at others. Monday's figures name where. OKX took about $445 million in 24-hour net inflows, the largest of any venue in Cointelegraph's reading. Bybit followed at $112 million. Gate and Bitget took $91 million and $54 million. OKX, last valued at $25 billion when Circle and Standard Chartered backed it, holds about $29 billion in tracked wallets against Binance's $127.9 billion.

Sunday's readings were smaller. The Block, reading DefiLlama at 11:37 ET, had the next ten largest tracked venues taking about $368 million between them, with OKX on $316.8 million of it. Coinbase and Kraken sit outside that dashboard, so CoinGlass is the only count for them: Binance's bitcoin balance fell about 19,289 BTC while Coinbase gained 984 and Kraken 1,422.

The week's total is counted two ways

The cumulative figure is in worse shape than the daily one. Bitcoin.com, publishing at 08:30 UTC on Monday, tracked Binance's wallets from about $144.9 billion on 29 October to roughly $128.31 billion, a fall of more than $16.5 billion. TokenPost published ten minutes later and got $142.926 billion to $129.109 billion, a drop of $13.817 billion. Same two dates, about $2.7 billion between the declines. They do not reconcile. Both carry the same caution: the change does not measure customer withdrawals, since token prices moved too.

What would settle this is a list of addresses. Binance opened phase one of its withdrawal restart at 06:00 UTC on Sunday and has set no date for the next phase. Until the new hot wallet is public, the two counts cannot be checked against each other. Binance says deposits have stayed substantial and withdrawals are slowing. No account puts a deposit figure on Monday.