Binance Sees More Than $7 Billion in Net Outflows After $6.3 Billion Hack; OKX Draws $445 Million Inflow

Crypto exchange Binance has recorded more than $7 billion in net outflows since a $6.3 billion hack, while OKX posted a $445 million net inflow, the largest among major exchanges.

Cointelegraph reported on November 2, citing DefiLlama data, that OKX led major exchanges in 24-hour net inflows with $445 million. Bybit ranked second with $112 million, Gate was third with $91 million, and Bitget was fourth with $54 million.

Binance, by contrast, posted more than $7 billion in net outflows over the same period, marking the biggest capital flight among major exchanges. That was up from the $5.8 billion tally reported earlier that morning. Binance halted withdrawals immediately after the $6.3 billion hack last Thursday and began restoring them in stages from 6 a.m. UTC on Sunday.

Binance said it had recovered about 95% of the affected assets as of Sunday. The remaining 5% consists of low-liquidity tokens, which it is continuing to buy through market trading and over-the-counter transactions. The exchange said it would cover the losses with corporate funds, part of its Secure Asset Fund for Users, or SAFU, and part of its futures insurance fund, and would not pass the losses on to customers.

About $3 billion worth of stolen assets frozen by industry partners is separate from Binance's own recovery resources. Binance also released a new reserves snapshot on Sunday and plans to publish an updated proof-of-reserves report later that day.

According to DefiLlama, assets held in Binance wallets currently total about $127.9 billion, more than four times the roughly $29 billion held by second-ranked OKX.