$2.3B in deposits flow back to Binance as withdrawal services resume operations
Following the restoration of services after a $6.3 billion security breach, Binance documented $2.2 billion in positive net inflows within a 24-hour period, completely reversing the substantial outflows experienced on Monday.
Over the last 24 hours, Binance documented $2.3 billion in positive net inflows as the platform progressively reinstated withdrawal capabilities in the aftermath of the previous week's $6.3 billion security breach.
Among centralized trading platforms monitored by DefiLlama, the exchange topped the charts for 24-hour net inflows. During this same timeframe, Bitfinex saw approximately $280 million in net deposits, while Bitget registered roughly $127 million.
"By 03:00 UTC, we are seeing hourly deposits exceed withdrawals, reflecting improving user activity and stabilizing flows," Binance said Tuesday on X.
These incoming funds represent a complete turnaround from the previous day, during which Binance experienced over $7 billion in 24-hour net withdrawals. During that period, OKX emerged as the leader among exchanges with approximately $445 million in net deposits.
Following Thursday's $6.3 billion security incident, Binance halted all withdrawal operations on Friday as the company launched investigations into the breach and performed comprehensive security audits. The platform initiated the gradual restoration of withdrawal services at 06:00 UTC on Sunday and subsequently enabled withdrawals for certain fiat currencies on Monday, coinciding with a deceleration in withdrawal activity.
According to a recovery status update released on Sunday, Binance reported that it had successfully replenished approximately 95% of the compromised digital assets. The outstanding 5% was composed of tokens with lower liquidity levels that required additional time to procure through conventional market channels and over-the-counter transactions.
The platform has made a commitment to absorb the financial losses utilizing corporate resources and reserve protection funds, ensuring that customers will not bear any of the costs associated with the incident.
On Saturday, the US Federal Bureau of Investigation officially attributed the cyberattack to North Korea. However, North Korea rejected any involvement on Tuesday, with Kim Yo Jong, the sister of leader Kim Jong Un, dismissing the allegation as "absurd rhetoric."