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Binance says hourly deposits exceed withdrawals after US$6 billion hack

Binance says customer flows are stabilising after a US$6 billion hack, with deposits now exceeding withdrawals. - REUTERS
Binance says customer flows are stabilising after a US$6 billion hack, with deposits now exceeding withdrawals. - REUTERS

AI Brief

  • Binance reported that hourly deposits surpassed withdrawals by 0300 GMT on Tuesday, indicating stabilising customer activity.
  • The update follows a major security breach at Binance last week.
  • Over US$6 billion in assets were withdrawn from the cryptocurrency exchange as a result of the hack.
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BINANCE said hourly deposits exceeded withdrawals by 0300 GMT on Tuesday, signalling that customer flows were stabilising after a hack last week.

The breach resulted in more than US$6 billion of assets being drained from the cryptocurrency exchange.

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