Binance Sees $5.8B in Net Outflows as Withdrawals Resume After Hack

Binance recorded $5.8 billion in net outflows over the past 24 hours as customers rushed to withdraw funds following the exchange's record $6.3 billion hack, according to on-chain data from DefiLlama. The figure marks the first large-scale test of customer confidence since the largest crypto theft on record.

The exchange began restoring withdrawals at 6:00 UTC on Sunday, Binance said. By 3:30 UTC, it had processed $4.6 billion in withdrawals against $1 billion in deposits — net outflows of $3.6 billion. DefiLlama's separate tally showed $5.8 billion leaving over the full preceding 24-hour window as funds continued to exit after the exchange's initial update.

Binance said withdrawals surged when services first resumed but have since slowed and are stabilizing. The exchange also noted that the outflows represent only a small portion of the roughly $171 billion in customer assets it holds. Cointelegraph reached out to Binance for comment but did not receive an immediate response.

What does this change for customers?

For now, the answer is access — phased and partial, but real. In its latest update at 12:36 UTC, Binance said it had enabled withdrawals for tokens across 15 networks, including Bitcoin, Ethereum, BNB Smart Chain and XRP Ledger. The exchange added that it will continue restoring additional assets and networks in phases.

Early data shared by Binance shows the largest share of withdrawals came in USDt (USDT), followed by USDC (USDC) and Bitcoin (BTC). That mix suggests customers moved first toward stablecoins, the easiest assets to redeploy elsewhere, before pulling more volatile holdings.

How did Binance cover the loss?

On Saturday, Binance said it had replaced 90% of the assets lost in the $6.3 billion hack. The funds came from three internal sources: its corporate treasury, its Secure Asset Fund for Users, and its futures insurance fund.

That coverage matters operationally. It means customer balances were made whole without an external rescue, a point the exchange will likely lean on as it tries to arrest outflows. The remaining 10% of replaced assets and the pace of the phased withdrawal rollout are the two numbers to watch in the coming days, since sustained heavy outflows — even against a $171 billion balance sheet — would pressure liquidity planning and test whether the stabilization Binance describes holds once more networks come back online.