Santiment links Binance outflows to reported $6.34B hack

Crypto.news, citing a Nov. 6 report from Santiment, said a reported $6.34 billion Binance hack drove heavy cryptocurrency withdrawals and contributed to some of the most negative Bitcoin social sentiment recorded. The summary did not provide a withdrawal total or further details about the reported security incident. Santiment also found that derivatives activity remained comparatively resilient, with futures traders maintaining billions of dollars in positions. The contrast is between substantial reported outflows and continued leveraged-market participation, although the available coverage did not specify the size, direction or venue breakdown of those futures positions. The account comes from a single outlet, Crypto.news, and relies on Santiment’s analysis. No second outlet was available to corroborate the reported $6.34 billion figure or independently confirm the outflow, sentiment and futures-position observations, so the findings should be attributed to that report rather than presented as independently verified conclusions. The broader market context was subdued: total crypto market capitalization stood at $2.62 trillion and the overall market was flat. Bitcoin was priced at $76,042, up 0.15% over 24 hours but down 1.34% over seven days, with a market capitalization of $1.53 trillion. The Fear & Greed index was 28, placing sentiment in the Fear category despite Bitcoin’s small daily gain.