Binance Sees $7.03B Net Outflow in 24 Hours After $6.3B Hack

The headline number is large, but the more telling detail is the scale: the nine-hour net outflow was only about 2.1% of assets under management, and rival exchanges absorbed roughly $750 million in net inflows — a modest figure against Binance's drain, suggesting the money moved to the sidelines rather than rotating into competitors. That distinction matters for how the sector reads the event: a venue-specific confidence shock, not a broad migration. The open question is whether the outflow pace decelerates once the initial withdrawal backlog clears, and whether the reserve gap between Binance and the rest of the top tier keeps widening.