Binance Experiences $5.8 Billion Net Outflow Amid Record $6.3 Billion Hack

Binance announced that it resumed the withdrawal process at 6:00 UTC on Sunday. By 3:30 UTC, the exchange had processed $4.6 billion in withdrawals while receiving $1 billion in deposits, leading to a net outflow of $3.6 billion.

DefiLlama’s data showed a net $5.8 billion outflow in the 24 hours prior, indicating that withdrawals continued beyond Binance’s initial announcement.

Binance noted that withdrawal volumes initially surged sharply but have since slowed and stabilized. The exchange emphasized that these outflows represent only a small fraction of its total assets, estimated at approximately $171 billion. An immediate comment from Binance was not available when requested by Cointelegraph.

These fund movements provide an early indication of customer confidence following the $6.3 billion breach—the largest theft ever recorded in crypto history.

At 12:36 UTC, Binance shared that withdrawals had been enabled for tokens spanning 15 networks, including Bitcoin, Ethereum, BNB Smart Chain, and XRP Ledger. They also stated that access to more assets and networks will be restored gradually in phases.

Initial withdrawal data from Binance shows the highest volume was in USDt (USDT), followed by USDC and Bitcoin (BTC).

On Saturday, Binance reported that it had recovered 90% of the stolen assets from the $6.3 billion hack by utilizing funds from its corporate treasury, the Secure Asset Fund for Users, and its futures insurance fund.

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