Binance Records $4.5B in 24-Hour Withdrawals After $6.3B Hack, Nearly 90% of Funds Stay Off Rival Exchanges

AI Market Summary

Binance resumed withdrawals following a $6.3B exploit, with $4.5B withdrawn in 24 hours; rival exchanges absorbed only ~$368M, with OKX taking most, while Coinbase and Kraken gained BTC balances. Nearly nine in ten dollars leaving Binance did not reach a competitor, implying funds moved to self-custody or unidentified wallets. Immediate effect: elevated exchange-risk premium, thinner order-book depth, and heightened scrutiny of centralized custody.

Impact level

● High

Affected assets

BTC/USDT+0.29%

AI Insight · BTC/USDTAI Insight

▼ Bearish

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Binance processed $4.5 billion in withdrawals within 24 hours of reopening following a $6.3 billion hack, exchange data shows. The next ten exchanges combined drew roughly $368 million, with OKX capturing most of that flow, while Coinbase added 984 BTC and Kraken 1,422 BTC. Nearly nine in ten dollars leaving Binance did not land on a competing venue.

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