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Binance net outflows hit $5.8B as withdrawals resume

Binance recorded $5.8 billion in net outflows over a 24-hour period after a $6.3 billion hack, according to DefiLlama data. Binance separately reported $4.6 billion in withdrawals and $1 billion in deposits in an earlier update, for net outflows of $3.6 billion.

Binance said withdrawals had slowed after an initial surge and that the outflows were a small portion of the roughly $171 billion in assets it holds. It had enabled withdrawals for tokens on 15 networks but said other assets and networks would be restored in phases. Binance also said it had replaced 90% of the assets lost in the hack using its own funds and reserves.

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