Binance recorded $5.8 billion in net outflows over the past 24 hours as customers withdrew funds following the exchange's record $6.3 billion hack, according to DefiLlama data.
The exchange said it began restoring withdrawals at 6:00 UTC on Sunday. In an early update, Binance said it had processed $4.6 billion in withdrawals against $1 billion in deposits, resulting in $3.6 billion in net outflows. Separate DefiLlama data showed $5.8 billion in net outflows over the preceding 24 hours as funds continued leaving the exchange after the initial update.
Withdrawals slow after initial surge
Binance said withdrawals initially surged but have since slowed and are stabilizing. The exchange noted that the outflows represented a small portion of the approximately $171 billion in assets it holds. Cointelegraph reached out to Binance for comment but did not receive an immediate response.
The flows offered an early test of customer confidence following the $6.3 billion hack, the largest crypto theft on record.
Networks restored in phases
In its latest update at 12:36 UTC, Binance said it enabled withdrawals for tokens across 15 networks, including Bitcoin, Ethereum, BNB Smart Chain and XRP Ledger. The exchange said it will continue restoring additional assets and networks in phases.
Early data shared by Binance showed that the largest share of withdrawals were in USDt (USDT), followed by USDC (USDC) and Bitcoin (BTC).
On Saturday, Binance said it had replaced 90% of the assets lost in the $6.3 billion hack using funds from its corporate treasury, its Secure Asset Fund for Users and its futures insurance fund.
