Binance recorded $5.8 billion in net outflows over the past 24 hours as customers withdrew funds after the exchange’s record $6.3 billion hack, according to data from DefiLlama.
The exchange began restoring withdrawals at 6:00 UTC on Sunday. By 3:30 UTC, Binance had processed $4.6 billion in withdrawals against $1 billion in deposits, resulting in net outflows of $3.6 billion. DefiLlama’s separate 24-hour figure later showed outflows had reached $5.8 billion.
Binance said withdrawals initially surged after services resumed but had since slowed and were stabilizing. The exchange described the outflows as a small portion of the approximately $171 billion in assets it holds.
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. Additional assets and networks would be restored in phases, according to the exchange.
Early data shared by Binance indicated that USDt, also known as USDT, accounted for the largest share of withdrawals, followed by USDC and Bitcoin.
The withdrawal activity provided an early test of customer confidence after the $6.3 billion incident, described as the largest crypto theft on record. Binance said on Saturday that it had replaced 90% of the assets lost using funds from its corporate treasury, its Secure Asset Fund for Users and its futures insurance fund.
Sources: Cointelegraph.