Net Outflow from Binance Reached $5.8 Billion After Withdrawal Resumption

In the last 24 hours, Binance experienced a net outflow of $5.8 billion, according to DefiLlama: clients are withdrawing funds following a record $6.3 billion hack – the largest theft in cryptocurrency history. The exchange reported that it began restoring withdrawals at 6:00 UTC on Sunday. By the time of the update, it had processed $4.6 billion in withdrawals against $1 billion in deposits – resulting in a net outflow of $3.6 billion. DefiLlama's data on the $5.8 billion pertains to the period after the exchange's initial update when funds continued to leave: some clients were withdrawing money even after the service was restored.

Binance claims that withdrawals initially surged but then slowed and stabilized, with their volume being a small fraction of the approximately $171 billion in assets held by the exchange. In other words, even the record outflow did not create a critical strain on the platform's balance: it represents a few percent of the total client funds.

In an update at 12:36 UTC, Binance reported that it had enabled token withdrawals in 15 networks, including Bitcoin, Ethereum, BNB Smart Chain, and XRP Ledger, and would gradually restore other assets and networks. According to early data from the exchange, the largest share of withdrawals was in USDT, followed by USDC and BTC – meaning clients primarily withdrew stablecoins rather than Bitcoin.

On Saturday, Binance reported that it replaced 90% of the assets lost in the $6.3 billion hack using corporate treasury, the Secure Asset Fund for Users (SAFU), and the futures insurance fund. Cointelegraph requested a comment from Binance but did not receive an immediate response.

The fund flows served as an early test of client trust in the exchange following the largest hack in cryptocurrency history. It is also worth noting a discrepancy in the source's timeline: Binance mentions the start of withdrawals at 6:00 UTC but reports processing $4.6 billion by 3:30 UTC – likely referring to a later update or the next day, and this should be clarified before publication.