Binance Allows Customers to Resume Withdrawals, Sees $5.8 Billion Net Outflow

Binance, the world’s largest crypto exchange, saw $5.8 billion in net outflow of assets after it resumed processing withdrawals for users on Sunday morning following a historic $6.3 billion hack.

The net outflow figure, tracked by crypto analytics platform DefiLlama, represents about 3% of Binance’s $171 billion total assets under management before the hack.

Binance said in an update on X Sunday midday that after an initial spike, withdrawal volumes have declined and are stabilizing. The FBI said North Korea was responsible for the hack, while Binance has pledged to cover all losses. Bitcoin price was flat over the weekend, trading around $77,700 after falling from $80,000 before the hack on Thursday.