Binance reopens withdrawals: $5.8 billion withdrawn in 24 hours
Original headlineBinance rouvre les retraits : 5,8 milliards de dollars sortis en 24 heures
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Binance reopened withdrawals on Sunday following a $6.3 billion hack, with $5.8 billion flowing out of the exchange within 24 hours according to DefiLlama. The mass exodus came as users rushed to move funds off the platform after the security breach, one of the largest in crypto exchange history. The outflows serve as a stress test of Binance's reserves and liquidity, with the exchange so far processing redemptions without reported interruptions. Market participants are watching whether Binance can maintain withdrawal operations and whether on-chain flows stabilize in the coming days. Any signs of continued large-scale outflows or reserve shortfalls could deepen confidence concerns across centralized exchanges.
Muhabbit's AI wrote this summary in its own words from Journal du Coin's report and translated it from French. It can get details wrong, so check the source.
Named in this story
Binance, DefiLlama