Binance Net Outflows Jump to $5.8B as Withdrawals Resume After Hack

Binance recorded heavy customer withdrawals in the day after it reopened withdrawals following a record $6.3 billion hack, according to blockchain analytics data. DefiLlama shows the exchange posting $5.8 billion in net outflows over the past 24 hours, reflecting funds moving out as users returned to account activity.

Binance said it started restoring withdrawals at 06:00 UTC on Sunday. By 03:30 UTC, the exchange reported processing $4.6 billion in withdrawals compared with $1 billion in deposits, implying net outflows of $3.6 billion for that window. In DefiLlama’s broader 24-hour view, net outflows remained elevated even after the initial restart, underscoring how quickly customer behavior can shift after a major security incident.

Key takeaways

• DefiLlama data indicates Binance saw $5.8 billion in net outflows over the previous 24 hours following the hack.
• Binance restarted withdrawals at 06:00 UTC Sunday, reporting $4.6 billion processed by 03:30 UTC with $1 billion in deposits.
• Outflows appear to be stabilizing, with Binance saying withdrawal volume surged initially and then slowed.
• Stablecoin and BTC withdrawals led, with early Binance data pointing to the largest share coming from USDT, followed by USDC and Bitcoin.
• Scope of restored withdrawals expanded in phases, reaching multiple networks including Bitcoin, Ethereum, BNB Smart Chain, and XRP Ledger.

A withdrawal test after the largest reported hack

The figures provide an early measure of how customers respond when an exchange resumes operations after a major breach. Binance’s reported withdrawals and net outflows arrive in the immediate aftermath of what the article describes as the largest crypto theft on record—an incident Binance has since begun addressing through restoration and replacement of stolen assets.

Binance framed the movement of funds as part of a normal stabilization process rather than an ongoing breakdown. The exchange said withdrawals initially jumped but have since slowed, suggesting at least some return to routine behavior as the platform gradually enables more tokens and networks.

What Binance says it has restored—and how fast

Binance’s latest operational update at 12:36 UTC (via an official post on X) states it enabled withdrawals for tokens across 15 networks. The update listed major ecosystems including Bitcoin, Ethereum, BNB Smart Chain, and XRP Ledger, while also indicating that additional assets and networks would be restored in phases.

For traders and users, phased restoration matters because liquidity and withdrawal support are often uneven immediately after an incident. Even when withdrawals are technically “open,” the available blockchains determine how quickly customers can exit positions or rebalance holdings. Binance’s approach implies a controlled expansion designed to reduce operational risk while services return to normal.

Where the outflows were concentrated

Beyond totals, early data shared by Binance suggested the largest volume of withdrawals came from USDT, followed by USDC and Bitcoin. That mix is consistent with how many users manage short-term risk after an exchange disruption: stablecoins provide an immediate parking place while withdrawals are routed, while BTC remains the most widely used alternative for customers seeking to reduce counterparty exposure.

The overall scale of the withdrawal activity, however, remains striking. DefiLlama’s $5.8 billion net outflows figure over 24 hours indicates the exchange experienced persistent net reduction rather than a one-time rush immediately after withdrawals reopened.

Replacement efforts and the confidence question

Binance also reported on Saturday that it replaced 90% of the assets lost in the $6.3 billion hack using a combination of sources, including its corporate treasury, its Secure Asset Fund for Users (SAFU), and its futures insurance fund.

That kind of replacement commitment is intended to reassure customers and reduce the incentive to withdraw en masse. But the withdrawal data shows customer confidence is tested in the hours and days after a breach—particularly when customers prioritize the ability to move funds out of the exchange without friction.

Binance told Cointelegraph that while outflows were substantial, they represented a small portion of the exchange’s reported approximately $171 billion in assets. The exchange did not provide additional risk metrics in the provided excerpt, and Cointelegraph noted it reached out for comment but did not receive an immediate response.

As the platform continues restoring withdrawals across more networks and tokens, the market will watch for whether the net outflow trend continues to cool or whether a broader exit materializes over the next phase of reopening. In the short term, the most important indicators are sustained net balances on-chain and whether withdrawal availability remains stable without further interruptions.