Ether Exchange Balances Drop 5.4% Following Binance Security Breach

Major cryptocurrency exchange addresses shed approximately 297,000 Ether between October 28 and November 2, decreasing total exchange holdings by 5.4% and cutting their share of circulating supply from 3.56% to 3.20%. The decline began on October 29 when attackers drained roughly 200,630 ETH from Binance hot wallets, offset partially by a 39,000 ETH rise on rival platforms. A second wave followed between November 1 and November 2, with exchanges losing about 313,000 ETH as platforms reopened withdrawals. Amid the contraction in exchange liquidity, Ether traded near $2,264, down from October highs around $2,800.