Binance’s net inflows turn positive at $2.3B as withdrawals expand

Binance recorded $2.3 billion in net inflows over the past 24 hours as it expanded withdrawals following last week’s $6.3 billion hack.

The exchange led centralized exchanges tracked by DefiLlama in 24-hour net inflows. Bitfinex recorded about $280 million and Bitget about $127 million over the same period.

“By 03:00 UTC, we are seeing hourly deposits exceed withdrawals, reflecting improving user activity and stabilizing flows,” Binance said Tuesday on X.

The inflows mark a reversal from Monday, when Binance recorded more than $7 billion in 24-hour net outflows. OKX led exchanges with about $445 million in net inflows at that time.

Binance suspended withdrawals on Friday after Thursday’s $6.3 billion hack while it investigated the breach and conducted security checks. It began restoring withdrawals at 06:00 UTC on Sunday and reopened withdrawals for some fiat currencies on Monday, as outflows started to slow down.

In a Sunday recovery update, Binance said it had replaced approximately 95% of the affected assets. The remaining 5% consisted of less liquid tokens that took longer to acquire through market and over-the-counter purchases.

The exchange has pledged to cover the losses using company resources and protection funds without passing them on to customers.

The US Federal Bureau of Investigation attributed the attack to North Korea on Saturday. North Korea denied responsibility Tuesday, with Kim Yo Jong, the sister of leader Kim Jong Un, dismissing the allegation as “absurd rhetoric.”

Related: OKX draws $445M in net inflows as Binance outflows exceed $7B