News · Security & Hacks
Withdrawal processing resumed after the record hack, sending capital to rival platforms while Binance moves treasury and insurance assets to cover customer balances.
Key point 1 of 3
01
Binance net outflows topped $7 billion after the exchange began a phased resumption of withdrawals at 6:00 a.m. UTC on Sunday .
Key point 2 of 3
02
OKX captured $445 million in 24-hour net inflows, leading rival exchanges including Bybit, Gate, and Bitget .
Key point 3 of 3
03
Binance reported replenishing 95% of compromised assets using treasury, SAFU, and futures insurance funds, with $3 billion frozen by partners .
Context
A late Thursday breach resulted in the theft of $6.3 billion from Binance, forcing an immediate withdrawal halt across the exchange before services were systematically restored…
Why it matters
Depositors are reallocating funds to competing venues like OKX and Bybit, though Binance maintains an industry-leading reserve base exceeding $127 billion while absorbing all…
What to watch
Release of Binance's updated proof-of-reserves audit scheduled for Monday, alongside the recovery progress of the remaining 5% in less liquid stolen tokens.
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