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

What happened

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.

Confirmed

Global impact / market context

Large withdrawals reduce the assets held on an exchange and can constrain its ability to process further requests if they continue. For crypto assets, Binance’s phased reopening and the reported withdrawal pace may influence customers’ decisions to keep funds there or move them elsewhere.

Analyst inference

The article reports Binance’s outflows alongside $4.05 billion in net outflows over 24 hours in DefiLlama data, which tracks assets across exchange wallets, and $316.8 million in net inflows at rival OKX. These figures show contrasting flows, not their cause.

Confirmed

What to watch

1. Whether Binance completes testing and restores withdrawals on the remaining networks and assets, including Cardano, Chainlink, Hyperliquid, Litecoin and NEAR, could affect customers’ ability to move them. Confirmed
2. Binance said withdrawal volumes had declined and were stabilising, while deposits remained substantial; further updates could show whether that pattern continues as access is restored. Confirmed
3. If withdrawals remain high after reopening, Binance may face continued pressure to retain assets and reassure customers; sustained deposits could instead ease that pressure, but neither outcome is established. Analyst inference

Affected assets

• LINK — Chainlink
• ADA — Cardano
• BTC — Bitcoin
• NEAR — NEAR Protocol

Evidence

• theblock.co