Binance has officially reopened withdrawals following the $6.3B hack, processing $4.5B in 24h outflows. Is it pure panic, maybe? But it could probably also be a chunk of backlog…
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Binance has officially reopened withdrawals following the $6.3B hack, processing $4.5B in 24h outflows. Is it pure panic, maybe? But it could probably also be a chunk of backlog transactions clearing…
Binance has officially reopened withdrawals following the $6.3B hack, processing $4.5B in 24h outflows. Is it pure panic, maybe? But it could probably also be a chunk of backlog transactions clearing after days of being frozen, alongside Binance's own internal wallet rebalancing. With over $171B remaining in total assets, that outflow is just 2.6% of their total reserves. However, worth watching if outflows stabilize or accelerate over the week. And I also believe self-custody with an abundance of caution and security hygiene is the way to go. chart: Defillama
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