Binance Net Customer Outflows Reach $4.72 Billion as Flows Normalize

Binance’s customer net outflows totaled $4.72 billion through Monday, about 3% of the exchange’s assets, as hourly inflows and outflows largely returned to normal after the incident.

Binance co-CEO Richard Teng gave the figures Tuesday during Hong Kong FinTech Week. Most of the outflows were in Tether (USDT), he said.

Teng said Binance had replenished 95% of the affected tokens. The remaining 5% are mainly lower-liquidity tokens, and Binance is working with over-the-counter trading firms to restore those assets.

The outflow total measures customer withdrawals net of deposits, separate from losses tied to the incident. Teng said Binance is covering those losses through its Secure Asset Fund for Users (SAFU) and other company reserves, and that customer funds remain safe. He characterized Binance’s current financial position as “very robust.”

Teng called the incident a painful lesson, said the company takes responsibility and pledged Binance would become stronger.

The Federal Bureau of Investigation (FBI) has attributed the incident to North Korea, which has denied responsibility.