OKX and Binance See Major Shifts Following Crypto Hack

Digital asset platforms experienced significant capital movement as tracking data revealed shifting trends between OKX and Binance. OKX paced all tracked cryptocurrency exchanges by securing approximately $445 million in 24-hour net inflows. Meanwhile, Binance continued processing substantial withdrawals following the reopening of its platform after a record-breaking security incident. DefiLlama data showed Bybit following in second place with $112 million in net inflows, alongside Gate at $91 million and Bitget at $54 million.

Binance registered the largest net outflows among monitored venues, exceeding $7 billion. The exchange previously halted withdrawals on Friday following a $6.3 billion security breach, described as the largest in digital currency history. Withdrawal processing resumed in phases beginning Sunday morning at 6:00 a.m. UTC. DefiLlama records indicate Binance held around $127.9 billion in tracked wallets, maintaining a position more than four times larger than OKX, which held $29 billion.

OKX led daily inflows with $445 million while Binance processed over $7 billion in outflows.

To address the shortfall, Binance utilized its corporate treasury, a partial deployment of the Secure Asset Fund for Users, and a portion of its futures insurance fund. By Sunday, leadership stated that roughly 95% of impacted assets had been replenished. The remaining 5% involved less liquid tokens acquired through market and over-the-counter transactions. Industry partners additionally froze about $3 billion in stolen assets separately from these replacement reserves. Market data from CoinMarketCap showed OKX token OKB rising 1.4% to trade near $113, while BNB increased 0.3% to approximately $708. THORChain's RUNE also experienced a 13% gain following the incident.

Why it matters

The divergent capital flows highlight immediate shifting user trust and liquidity distribution across major digital asset trading platforms following unprecedented security challenges. These developments impact market participants monitoring exchange stability and asset security protocols.