Binance has swung back to net inflows of roughly $2.3 billion over 24 hours after beginning to restore customer access following a security breach estimated at roughly $6.3 billion, according to market-tracking data. The reversal came after a period of heavy withdrawals and reflects an early, if incomplete, return of confidence in the exchange.
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The incident is being described as the largest theft in crypto’s history. Binance said its initial investigation found that a compromised laptop used by a DevOps engineer enabled unauthorized withdrawals of Bitcoin, Ether and other assets across multiple networks.
Frozen funds and reopened withdrawals ease immediate pressure
Efforts to contain the stolen assets have focused on tracing wallets and blocking transfers across the industry. Estimates of the amount frozen vary, but reports indicate that between roughly $2.7 billion and $3 billion of the funds were stopped or restricted shortly after the hacking incident.
Ripple also said it froze $200 million in RLUSD connected to wallets linked to the suspected exploit. The intervention highlighted the role that issuers of centrally administered stablecoins can play in limiting the movement of funds after a major breach.
Binance has said it will cover customer losses. The exchange’s reopening of withdrawals appears to have been the critical test: hourly deposits began exceeding withdrawals as access expanded, and Binance led centralized exchanges in net inflows during the latest 24-hour period.
BNB remains the market’s clearest measure of exchange risk
BNB sold off sharply after the hack, at one point falling about 8.7% within an hour. The token was hit harder than several other large cryptocurrencies because of its direct connection to the Binance ecosystem, even though the reported exploit did not target BNB Chain itself.
Futures positioning also turned more defensive, with funding rates slipping negative as traders increased short exposure. BNB later found support near its 200-day moving average, but it remains below pre-hack levels and faces resistance around the $733 area cited by technical analysts.
The broader crypto market has stayed under pressure, with Bitcoin near $77,000 and several major altcoins recording steeper monthly declines. Risk appetite has been strained by exchange-traded fund outflows, geopolitical concerns and uncertainty around monetary policy, magnifying the shock from the Binance breach.
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