$2 Billion Moves In The First 3 Hours After Binance Reopens Withdrawals

What Happened

So far, no rally, just a modest 1.05% uptick in the last 24 hours with the pioneer crypto trading for $78,122 as of this writing. That is below the $79,000 level it lost on hack day. Investors also pulled $643 million from Bitcoin ETFs a day after the hack.

Whether Bitcoin repeats that recovery is contested. Analyst Charles Edwards owns no Bitcoin after the Binance hack, while Giovanni Santostasi and Benjamin Cowen pushed back on his stance in BeInCrypto’s expert roundup.

Market Context

Late Friday, about 34 hours before Binance reopened withdrawals, crypto commentator Ted Pillows told his followers the restart would push prices up.

Why It Matters

Crypto tracker Whale Alert flagged about $2 billion in Bitcoin (BTC), Ethereum (ETH) and dollar-pegged stablecoins leaving Binance within roughly three hours of the exchange reopening withdrawals Sunday. Binance says it now pays out every withdrawal from brand-new wallets.

Binance froze withdrawals after attackers took about $6.3 billion on October 29. For customers locked out since then, and for Bitcoin holders hoping for a relief rally, the question is whether this money is leaving or being reshuffled.

Details

Who Moved $2 Billion Out of Binance?

Whale Alert posts show 10,000 BTC worth about $779 million, nearly $1 billion in Tether (USDT), $200 million in USD Coin (USDC), and 30,000 ETH worth $68 million.

The tracker sent each one from Binance to an “unknown wallet.”

Binance said Sunday it had added newly generated addresses to its proof-of-reserves list, the public set of wallets it says hold customer assets. All future withdrawals will be paid from those wallets.

Binance has not publicly matched each transfer to the new wallets. However, the exchange says it has replaced about 95% of the stolen assets.

Why Has the Promised Sunday Rally Not Arrived?

“Binance targets to start resuming the withdrawal service within approximately 34 hours. This will cause a Sunday pump,” Pillows indicated.

After Bybit lost about $1.5 billion in February 2025, Bitcoin fell about 3% and ETH about 7% within hours, Kaiko data showed. Bybit cleared its withdrawal queue in about 12 hours. Bitcoin later hit a record $126,080 in October 2025.

What Is Still Locked on Binance?

Only phase one, covering 15 networks, is open. Co-founder Yi He said other wallets still face security audits, with no firm reopening date.

Meanwhile, Binance has set aside more than $6.34 billion of its own money to cover the losses, according to AFP.

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