Binance said assets in its blockchain addresses surged during what appeared to be an attempted bank run, following a wave of social media posts urging users to withdraw their funds from the world’s largest cryptocurrency platform.
Co-founder He Yi described this incident on the X platform as a coordinated campaign to withdraw funds by certain parts of the community. She added that she still did not understand why deposits appeared to exceed withdrawals once the campaign began, and saw the large withdrawals – while they were common – as a useful stress test for the sector.
She also urged users to be careful when transferring funds, warning that errors in blockchain transfers are permanent once confirmed.
Some community friends have launched a takedown campaign. Although the number of assets in Binance addresses increased after the launch of the campaign, I believe that regularly initiating withdrawals across all trading platforms is a very effective stress test.
I… pic.twitter.com/U8TyHDHeLH– Yi He (@heyibinance) February 4, 2026
In the same article, she pointed users toward self-custody options, including Binance Wallet and Trust Wallet, and suggested using a hardware wallet for those who want more assurance.
Binance outage sparked renewed discussions about platform dangers on social media
The comments come after Binance temporarily halted withdrawals on Tuesday, an outage that reignited familiar concerns in a market still sensitive to rumors about the platforms’ solvency.
The company first posted: “We are aware of some technical difficulties affecting withdrawals on the platform. Our team is already working to resolve the issue and services will resume as soon as possible.” Later updates added that the issue was resolved in about 20 minutes.
@binance Withdrawals were briefly suspended due to technical issues before restoring service within about 20 minutes, the exchange said on X.#Binance #CryptoTrading https://t.co/95c2xKnUdK
– Cryptonews.com (@cryptonews) February 3, 2026
The short outage quickly became a topic of discussion on the X platform, with some users comparing the incident to the outage of previous platforms such as FTX, and describing the takedown campaign as a stress test for Binance’s systems.
He Yi’s letter contradicts this narrative by highlighting clear entries rather than exits during the campaign period.
Changpeng Denies Bitcoin Selling Allegations Amid Weekend Crash
On Monday, Binance co-founder Changpeng Zhao weighed in, saying the market was recycling blame stories as cryptocurrency prices fell.
He called the allegations “exaggerated FUD rumors” and denied claims that Binance sold $1 billion worth of Bitcoin to trigger the weekend crash, saying the money belonged to users trading on the platform.
Zhao also criticized the idea that he could control the market cycle through his public comments, saying, “If I had that much power, I wouldn’t be here on CryptoTwitter with you.” This came after some users joked that he had “canceled the bull cycle” by showing less confidence in this thesis.
The debate took place as cryptocurrency traders remained nervous and market liquidity was low on various platforms, conditions that tend to amplify rumors and accelerate crowd behavior. This debate has also reignited a familiar fault line in the market, between traders who hold their assets on platforms for speed and those who view periodic withdrawals as the only reliable method of control.
Binance relied on transparency reporting to address these concerns. The January 2026 foreign exchange reserve rankings by CoinMarketCap showed that Binance topped the list with approximately $155.64 billion in total reserves, strengthening its position as the largest liquidity hub in the industry.
The article Binance: Assets Surged in Suspicious Mass Withdrawal Attempt appeared first on Cryptonews Arabic.
