Binance Net Outflows Reach $5.8 Billion; Exchange Says Withdrawals Have Slowed

A 24-hour snapshot put Binance's net outflow at $5.8 billion as customers withdrew funds after the exchange suffered a $6.3 billion hack and reopened withdrawals in stages.

The $5.8 billion figure reflects the preceding 24 hours, not only activity during the reopening window. A separate tally put net outflows during the reopening period at $3.6 billion. An earlier 24-hour reading of about $1.26 billion in net outflows came when withdrawals for some assets were available across seven networks.

Binance said withdrawal activity surged when access returned but had since slowed and begun to stabilize. It described the $5.8 billion outflow as a small share of roughly $171 billion in customer assets.

In an update at 7:36 a.m. ET Sunday (12:36 UTC), Binance said token withdrawals were available across 15 networks, including Bitcoin (BTC), Ethereum, BNB Smart Chain and XRP Ledger. It said it would restore access for more assets and networks in phases.

The hack was valued at $6.3 billion. On Saturday, Binance said it had replenished 90% of the affected assets through its corporate treasury, Secure Asset Fund for Users and futures insurance fund.