Binance’s net inflows turn positive at $2.3B as withdrawals expand
Binance led exchanges in 24-hour net inflows, reversing Monday’s heavy outflows as it restored access to funds after its $6.3 billion hack.
Binance's exchanges experienced a reversal in net inflows over the past 24-hour period, reaching $2.3 billion. This change came as withdrawals expanded following a $6.3 billion hack incident. Bitfinex and Bitget also saw net inflows of $280 million and $127 million, respectively, during the same period. Binance reported that by 03:00 UTC, hourly deposits had exceeded withdrawals, indicating improved user activity and stabilized flows.
The exchange had previously suspended withdrawals on Friday in response to the hack, conducting security checks and reinstating withdrawals at 06:00 UTC on Sunday. By Monday, some fiat currencies were once again available for withdrawal, with outflows beginning to slow down. Binance stated that approximately 95% of the affected assets had been replaced, with the remaining 5% being less liquid tokens acquired through market and over-the-counter purchases.
The US Federal Bureau of Investigation has attributed the hack to North Korea, though North Korea has denied responsibility, with Kim Yo Jong dismissing the allegation as "absurd rhetoric."
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