Binance net outflows surge to $5.8B as withdrawals resume after record hack

Binance has recorded $5.8 billion in net outflows over the past 24 hours as customers withdraw funds following the exchange’s record $6.3 billion hack, according to data from DefiLlama.

Binance said it began restoring withdrawals at 6:00 UTC on Sunday. By 3:30 UTC, it had processed $4.6 billion in withdrawals against $1 billion in deposits, resulting in net outflows of $3.6 billion.

Separate data from DefiLlama showed $5.8 billion in net outflows over the preceding 24 hours, as funds continued leaving the exchange after its initial update.

Binance said withdrawals initially surged but have since slowed and are stabilizing. The exchange noted that the outflows represented a small portion of the approximately $171 billion in assets it holds.