OKX leads crypto exchange inflows as Binance outflows top $7 billion after hack

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OKX leads crypto inflows after Binance hack

Highlights

OKX leads 24-hour net inflows among crypto exchanges at about $445 million, surpassing Bybit's $112 million and Gate's $91 million, per DefiLlama.
Binance records net outflows exceeding $7 billion after reopening phased withdrawals post-hack, while its wallets hold $127.9 billion versus OKX's $29 billion.
Binance replenishes 95% of affected assets by Sunday using corporate treasury, SAFU, and insurance funds, as OKB rises 1.4% to $113 and BNB gains 0.3% to $708.

Exchange flows after withdrawal reopening

As reported by Cointelegraph, citing DefiLlama, OKX posts the largest 24-hour net inflows among tracked crypto exchanges at about $445 million, followed by Bybit with $112 million, Gate with $91 million and Bitget with $54 million.

Binance continues to see the biggest net outflows, exceeding $7 billion, up from $5.8 billion earlier Monday. The exchange says it begins restoring withdrawals in phases at 6:00 a.m. UTC on Sunday after suspending them Friday, shortly after the late Thursday hack.

At the time of writing, Binance holds about $127.9 billion in wallets tracked by DefiLlama, more than four times the roughly $29 billion held by OKX, the second-largest exchange by that measure.

Recovery funding and market response

Binance says it has replenished about 95% of the affected assets by Sunday, up from 90% on Saturday. The remaining 5% consists of less liquid tokens that it continues to buy through market and over-the-counter transactions.

The exchange says it is using its corporate treasury, a partial deployment of its Secure Asset Fund for Users, or SAFU, and part of its futures insurance fund to replace the stolen assets. Binance also says about $3 billion in frozen stolen assets held by industry partners is separate from those replacement funds, and that it plans to absorb the losses without passing them to customers.

Binance says it publishes a new reserves snapshot on Sunday and expects an updated proof-of-reserves report on Monday. In the market, OKX's OKB token rises about 1.4% over the past 24 hours to near $113 on Monday, while BNB gains 0.3% to about $708, according to CoinMarketCap.

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