Live updates: Binance records $6 billion outflows after starting withdrawals, less then 4% of total holdings

Binance recorded approximately $6 billion in outflows after reopening withdrawals, equal to less than 4% of its total holdings, following a 45-hour withdrawal freeze triggered by a $6.3 billion theft. The exchange halted withdrawals for roughly two days as it responded to the security breach, during which rival exchanges attracted deposits from customers seeking alternatives. Once withdrawals resumed, users moved funds out at a rapid pace, though the outflow total remained a small fraction of Binance's overall reserves. The episode highlights how quickly users can pull liquidity from even the largest crypto exchanges after a security incident, while also underscoring that the majority of customer funds stayed put. Market watchers will be monitoring whether outflows accelerate or stabilize in the coming days, whether Binance provides further details on the theft and reimbursement plans, and whether competing exchanges continue to gain market share in deposits.