OKX draws $445 million in net inflows as Binance outflows exceed $7 billion

OKX tops daily inflows as Binance outflows pass $7 billion

OKX recorded about $445 million in net inflows over 24 hours, the largest among tracked crypto exchanges, while Binance registered more than $7 billion in net outflows, according to data from DefiLlama.

The movement of funds comes as Binance reopened withdrawals in phases after a $6.3 billion hack late Thursday, the largest in cryptocurrency history. A crypto exchange is a platform where people buy, sell and store digital assets. Net inflows and outflows measure how much money moves in and out of a platform over a set period.

The numbers behind the flows

• OKX led exchanges with about $445 million in 24-hour net inflows.
• Bybit was second with $112 million, followed by Gate with $91 million and Bitget with $54 million.
• Binance recorded more than $7 billion in net outflows, up from $5.8 billion earlier on Monday.
• Binance held about $127.9 billion in wallets tracked by DefiLlama, more than four times the $29 billion held at OKX, the second-largest exchange by that measure.
• OKX's OKB token rose about 1.4% to trade near $113 on Monday, while Binance's BNB gained 0.3% to about $708, according to CoinMarketCap.

How Binance is replacing the stolen funds

Binance suspended withdrawals on Friday, shortly after the late Thursday hack. The exchange said it began restoring withdrawals in phases at 6:00 a.m. UTC on Sunday.

By Sunday, Binance said it had replenished approximately 95% of the affected assets, up from 90% on Saturday. The remaining 5% consists of less liquid tokens, which the exchange said it continues to buy through market and over-the-counter transactions, meaning direct trades arranged outside public order books.

To replace the stolen assets, Binance is using its corporate treasury, a partial deployment of its Secure Asset Fund for Users (SAFU) and a portion of its futures insurance fund. The exchange has pledged to absorb the losses without passing them on to customers.

Separately, about $3 billion in stolen assets was frozen by industry partners. Binance said this amount is not part of its replacement funds.

What is confirmed and what remains unclear

The inflow and outflow figures come from DefiLlama's tracking of exchange wallets, and the replenishment figures come from Binance's own statements. The $6.3 billion hack, the phased reopening of withdrawals and the funding sources for replacing assets are confirmed by Binance's announcements.

It remains unclear when Binance will finish replacing the remaining 5% of affected assets. The exchange said purchases are continuing but gave no completion date.

What Binance says comes next

Binance said it published a new reserves snapshot on Sunday. An updated proof-of-reserves report, a document meant to show that an exchange holds enough assets to cover customer balances, was expected on Monday.

Sources

• Cointelegraph