Binance Outflows Top $7B; THORChain Halts Swaps, BTCPay Warns of Wallet Drains

• Binance saw $7.03 billion in net outflows over 24 hours. Binance reported $3.64 billion in net customer withdrawals during the first 9½ hours after reopening
• THORChain halted ETH swaps after its vault refunded a 10 ETH deposit it never received. The user later returned the funds
• BTCPay Server urged operators to shut down their servers after reports of hot wallet thefts. Its initial alert gave no loss estimate

Binance outflows topped $7 billion in a 24-hour reading on November 2, a day after the exchange began restoring withdrawals. The rush to move money after the $6.3 billion Binance hack was clearest in the first few hours, when customers withdrew far more than they deposited. But Binance and the analysts tracking its wallets came up with different totals. One reason, the exchange said, was how it moved its own funds.

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What the $7 Billion in Binance Outflows Measures

DefiLlama showed $7.03 billion in net outflows over 24 hours and $13.52 billion over seven days. It tracked $127.93 billion in assets across Binance wallets. The seven-day figure includes the latest 24 hours and covers several days before withdrawals reopened.

Binance’s own count covered the first nine and a half hours after reopening on November 1. Customers withdrew $4.65 billion and deposited $1.01 billion, leaving net Binance withdrawals of $3.64 billion. The exchange also revealed that an earlier DefiLlama reading had missed transfers into a new Binance hot wallet. If a tracker recognizes the sending wallet but misses the receiving one, an internal transfer can look like a withdrawal.

Rival exchanges saw much smaller gains. In an earlier 24-hour window, $4.05 billion in net outflows at Binance and $368 million in combined net inflows at the next ten exchanges DefiLlama tracked. OKX accounted for most of that increase, though the figures cannot trace individual transfers.

Binance founder Changpeng Zhao said on X that most of the money left in the first couple of hours after withdrawals reopened. At the 12-hour mark, he put net outflows at 2.1% of assets and said more than $1 billion had come in as deposits.

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THORChain Refunds 10 ETH Its Vault Never Received

On October 31, THORChain credited a 10 ETH deposit it spotted in an Ethereum block. Ethereum subsequently replaced that block, but the deposit remained on THORChain’s books. When the swap failed to meet the user’s price limit, the vault paid out a refund for funds it had never received.

THORChain said its balance check caught the shortfall and halted ETH swaps. Within about two minutes, node operators stopped outgoing ETH payments. The user later returned the 10 ETH. The FBI separately asked THORChain node operators to block transfers linked to the Binance theft. THORChain attributed its halt to the refund error.

BTCPay Server Warns of Hot Wallet Drains

BTCPay Server asked operators to take their servers offline after reports that attackers had emptied hot wallets on installations running its payment software. Its initial alert did not say how many wallets had been affected, how much had been taken, or how the attackers had gained access.

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