More than 25,000 BTC withdrawn from Binance in 48 hours, annual record

Binance processed more than 25,000 BTC in withdrawals within 48 hours of reopening withdrawals on November 1, the largest two-day outflow of the year, according to CryptoQuant data reported November 4. Withdrawals had been suspended after a hack on October 29, and the surge in redemptions reflects heightened user concern about holding funds on the exchange. The record outflow matters because it signals eroding confidence in Binance's custody following the breach and could pressure the exchange's reserves. Market participants will watch whether the pace of withdrawals persists once backlogged requests clear, and whether Binance publishes reserve data to reassure users.