Binance recorded an estimated $5.8 billion in net outflows over 24 hours as customers withdrew cryptocurrency following the exchange’s record-breaking $6.3 billion security breach.
According to blockchain analytics platform DefiLlama, substantial amounts of digital assets continued leaving the world’s largest cryptocurrency exchange after it began gradually restoring withdrawal services on Sunday.
Despite the significant withdrawals, Binance reported that customer activity had started stabilizing. The exchange also emphasized that the outflows represented a relatively small percentage of its approximately $171 billion in assets under custody.
Binance Net Outflows Reach $5.8 Billion After Record Crypto Hack
Binance experienced a sharp increase in cryptocurrency withdrawals as customers regained access to their funds following the unprecedented cyberattack.
According to the exchange’s initial figures, customers withdrew approximately $4.6 billion in digital assets while depositing around $1 billion during the early stages of the withdrawal restart.
These transactions resulted in net outflows of approximately $3.6 billion.
However, separate figures published by DefiLlama showed that total net outflows had reached an estimated $5.8 billion over a 24-hour period.
The higher figure reflected continued movements of funds away from the platform following the initial restoration of withdrawal services.
The substantial outflows represent an important early indicator of how Binance customers are responding to the security incident.
Nevertheless, net withdrawals alone do not necessarily indicate financial instability, particularly when compared with the exchange’s overall customer asset holdings.
Binance Says Cryptocurrency Withdrawals Are Stabilizing
Despite the initial surge in withdrawal requests, Binance stated that customer outflows had begun slowing.
The exchange reported that withdrawal activity was gradually returning to more stable levels as customers regained access to their cryptocurrency holdings.
Binance also highlighted its substantial asset reserves, estimating that it held approximately $171 billion in digital assets.
Compared with this figure, the reported withdrawals represent a relatively limited proportion of the exchange’s total holdings.
However, the speed and scale of customer withdrawals remain important indicators of market confidence following the security breach.
The exchange’s ability to continue processing withdrawal requests could play a significant role in restoring trust among cryptocurrency investors.
Cointelegraph reportedly contacted Binance for additional comments regarding the latest outflow figures but had not received an immediate response.
Binance Restores Withdrawals Across 15 Blockchain Networks
Binance began gradually reopening cryptocurrency withdrawals on Sunday as part of its efforts to restore normal operations.
According to an exchange update published at 12:36 UTC, withdrawal services had been enabled for supported assets across 15 blockchain networks.
These included major networks such as Bitcoin, Ethereum, BNB Smart Chain, and XRP Ledger.
The company indicated that additional cryptocurrencies and blockchain networks would become available in subsequent phases.
The phased approach allows Binance to restore withdrawal functionality gradually while managing operational requirements following the cyberattack.
However, not every supported cryptocurrency or network was immediately available when withdrawals resumed.
Customers were therefore dependent on the exchange’s restoration schedule for access to certain digital assets.
Stablecoins Account for Largest Share of Binance Withdrawals
Initial withdrawal data released by Binance showed that stablecoins accounted for a significant portion of customer activity.
Tether’s USDt (USDT) represented the largest share of withdrawals, followed by Circle’s USDC stablecoin.
Bitcoin (BTC) ranked among the other major cryptocurrencies withdrawn from the exchange.
The prominence of stablecoins suggests that many customers were moving dollar-linked digital assets away from Binance during the initial withdrawal period.
However, the available figures do not establish whether these funds were transferred to competing exchanges, private wallets, or other cryptocurrency platforms.
The movement of substantial stablecoin balances also highlights the importance of liquidity and customer confidence during periods of uncertainty in digital asset markets.
Binance Replenishes 90% of Assets Stolen in $6.3 Billion Hack
The withdrawal activity followed a massive cybersecurity incident in which hackers stole approximately $6.3 billion in cryptocurrencies from Binance.
The attack has been described as the largest cryptocurrency theft on record, raising serious concerns about security across the digital asset industry.
On Saturday, Binance announced that it had replenished approximately 90% of the stolen assets.
The exchange explained that replacement funds came from several internal financial resources.
These included its corporate treasury, the Secure Asset Fund for Users (SAFU), and its futures insurance fund.
The company used these resources to acquire replacement cryptocurrencies and restore asset backing following the breach.
Importantly, replenishing stolen assets does not necessarily mean that the original cryptocurrencies have been recovered from the attackers.
Binance has indicated that it intends to cover the financial losses associated with the incident rather than passing them on to customers.
Binance Faces Critical Test of Customer Confidence
The substantial withdrawals following the Binance hack represent an important test of customer trust in centralized cryptocurrency exchanges.
Although the reported $5.8 billion in net outflows is significant, Binance maintains that the figure remains relatively small compared with its overall customer asset holdings.
The exchange’s decision to restore withdrawal services across multiple blockchain networks represents a key step toward returning to normal operations.
However, the longer-term consequences of the security breach will depend partly on whether withdrawal activity continues stabilizing and whether Binance can restore all affected services.
Investors will also be monitoring the exchange’s progress in replenishing stolen assets and strengthening its security infrastructure.
For the broader cryptocurrency market, the incident reinforces the importance of transparent reserves, reliable custody arrangements, and effective risk management.
As Binance continues restoring operations, customer asset flows and the exchange’s ability to process withdrawals will remain important indicators of market confidence.
