Binance Sees $2.3B Net Inflows Amid Withdrawal Expansion Post $6.3B Hack

Binance has resumed positive fund flows after facing a significant cyberattack earlier.

Among centralized exchanges tracked by DefiLlama, Binance led in net inflows over a 24-hour period. In comparison, Bitfinex reported approximately $280 million, while Bitget recorded around $127 million during the same timeframe.

Binance announced on Tuesday via X that by 03:00 UTC, hourly deposits had begun to outpace withdrawals, signaling heightened user engagement and more stable fund movements.

This positive inflow trend contrasts sharply with the figures from Monday when Binance experienced a net outflow exceeding $7 billion within 24 hours. At that time, OKX topped exchanges with a net inflow near $445 million.

Following the Thursday hack, Binance halted withdrawals on Friday to investigate the breach and ensure security measures. Withdrawals resumed at 06:00 UTC on Sunday, with some fiat currency withdrawals becoming available on Monday, coinciding with a slowdown in outflows.

In an update on Sunday, Binance revealed it had replenished roughly 95% of the stolen assets. The remaining 5% consisted of lower-liquidity tokens that took longer to acquire through markets and over-the-counter transactions.

The exchange committed to covering all losses using its own funds and protective reserves, assuring customers that no losses would be transferred to them.

On Saturday, the US Federal Bureau of Investigation attributed the hacking attack to North Korea. However, on Tuesday, North Korea denied involvement, with Kim Yo Jong, sister of leader Kim Jong Un, dismissing the claims as 'absurd rhetoric.'