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Market Incident

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AI compiled from Infoway · 7 analyzed stories

Binance sees $3.64 billion in net outflows after reopening withdrawals following record hack

Binance reported about $3.64 billion in net outflows during the first nine and a half hours after it began restoring withdrawals on Sunday, following a $6.3 billion hack on Thursday. It said withdrawals exceeded deposits, and it restored access in phases while continuing to test some networks and assets.

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Updated:

What happened

After a reported theft of about $6.3 billion, Binance began reopening withdrawals in stages on Sunday. Reports put withdrawals at $3.64 billion at first, then as high as $5.8 billion or $4.7 billion by Monday morning. Binance said withdrawals were slowing, deposits remained substantial, and outflows were under 3% of its assets.

Global impact / market context

Large withdrawals show that many users chose to move funds after the theft. This can put pressure on confidence in the exchange, while Binance’s statements about slowing withdrawals and rising deposits suggest activity was not moving in only one direction.

What to watch

  1. Check whether withdrawals keep slowing, since Binance said they eased after an initial surge.
  2. Check whether deposits continue to increase, since Binance said they were steadily rising or remained substantial.
  3. Check whether Binance finishes reopening withdrawals across networks and assets, since access was being restored in stages after security checks.

Affected assets

  • Bitcoin
  • BNB
  • Ether
  • Tether USDt
  • USD Coin

Evidence