After Binance resumed withdrawals, the two most pressing questions are: how much money was withdrawn, and where did it go? According to DefiLlama data, as of 4:30 PM Beijing time on November 2nd, Binance experienced a net outflow of approximately $7.034 billion in the past 24 hours. Binance previously stated that some funds transferred to its new hot wallet were not fully identified, which may have affected the statistics. Therefore, the entire $7.034 billion cannot be interpreted as user withdrawals. However, after withdrawals resumed, some people did choose to withdraw their funds first. Other exchanges saw net inflows during the same period, but there is insufficient evidence to correlate each transfer from Binance with these exchanges. Those unidentified receiving addresses cannot all be considered personal cold wallets. For retail investors like us, the desire to withdraw is understandable: exchanges have the capacity to pay out, but keeping hundreds of billions of dollars concentrated there makes them too conspicuous and subject to constant scrutiny. Based on feedback from those around me, people aren't necessarily worried about Binance's status as the "ultimate exchange," but rather: if even Binance, with its resources and security investments, can't withstand this, what is the actual level of security in the entire industry? A platform's ability to compensate can alleviate concerns about that platform, but it's unlikely to eliminate worries about the next incident. Every time something happens, users have to reconsider how to safeguard their assets. The fact that some people withdrew their coins back to their wallets after withdrawals resumed doesn't necessarily mean they're rejecting Binance. After such a significant incident, it's normal for some to want to withdraw their coins and manage them themselves. They can deposit them back for regular trading, and leave the rest as is. Binance can replenish assets, but the industry's repeatedly eroded confidence in security cannot be restored by a single platform paying out compensation.