Baku:Cryptocurrency exchange Binance has started the phased restoration of user withdrawals following a recent security breach, with a net outflow of approximately $3.64 billion recorded.

According to Anadolu Agency – English, the restoration process began at 0600GMT on Sunday, with Binance reopening withdrawals across 15 networks and assets within six and a half hours. During this period, the exchange processed withdrawals amounting to $4.65 billion and deposits of $1.01 billion.

The net outflow represented 2.1% of Binance's total assets under management, which stood at $171 billion based on reserve data from October 28. Binance reported that withdrawal volumes have since stabilized, while deposit volumes remain substantial.

The exchange noted that market conditions are stable, and technical teams are currently testing remaining networks and assets in preparation for the next phase of restorations. Additionally, Binance plans to publish an updated proof-of-reserves report on Tuesday, based on a snapshot taken on October 31, after completing cryptographic calculations.