CoinTelegraph
Binance reopened withdrawals after a reported $6.3B hack, then recorded $4.5B in net outflows over 24 hours. The next 10 exchanges combined saw about $368M in inflows, with OKX taking most of that total.
Why it matters
Nearly 9 in 10 dollars leaving Binance did not land at a rival exchange. That gap suggests the outflows were not simply a shift of funds to other centralized venues, though the figures do not identify where the money went.
Market impact
Coinbase added 984 BTC and Kraken added 1,422 BTC. Those deposits offer only a partial view of the broader flows, while the much larger Binance outflow leaves the destination of most funds unclear.
Frequently asked questions
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How much did Binance record in outflows after withdrawals reopened?
Binance recorded $4.5B in outflows over 24 hours after reopening withdrawals.
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How much did the next 10 exchanges gain combined?
The next 10 exchanges combined recorded about $368M in inflows, with OKX taking most of the total.
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Did most Binance outflows move to rival exchanges?
No. Nearly 9 in 10 dollars leaving Binance did not land at a rival exchange.
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What Bitcoin inflows were reported at Coinbase and Kraken?
Coinbase added 984 BTC, while Kraken added 1,422 BTC.
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Is the destination of most Binance outflows known?
No. The reported figures show that most outflows did not land at rival exchanges, but do not identify their destination.
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