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

What happened

Binance recorded $5.8 billion in net outflows over 24 hours as customers withdrew funds after a $6.3 billion hack. The exchange began restoring withdrawals on Sunday and said withdrawals first surged, then slowed and stabilized; it was reopening token withdrawals across 15 networks in phases.

Confirmed

Global impact / market context

Large withdrawals can reduce the funds Binance has available to meet customer requests and may weaken confidence in the exchange. Binance said the outflows were a small share of its approximately $171 billion in assets, while phased restoration means access to some tokens and networks remained limited.

Analyst inference

The report describes a sharp withdrawal wave after a major hack, but also says withdrawals had slowed and were stabilizing. That combination matters because continued outflows could pressure exchange operations, while restored access across more networks could help customers move funds and reduce immediate strain.

Analyst inference

What to watch

1. Whether Binance restores withdrawals for additional tokens and networks, and how quickly, could determine whether customers regain access to funds and whether outflows continue. Analyst inference
2. Whether withdrawal volumes keep slowing or resume rising will indicate if the initial wave is easing or customer confidence remains under pressure. Analyst inference
3. Binance reported that USDt had the largest share of withdrawals, followed by USDC and Bitcoin; further updates could show whether those assets remain the main destinations. Confirmed

Affected assets

• ETH — Ethereum
• BTC — Bitcoin
• USDT — Tether
• XRP — XRP
• BNB — BNB
• USDC — USD Coin

Evidence

• cointelegraph.com