Crypto

Binance Reports $11 Billion Withdrawn Over 46 Hours Following Security Breach

Binance recorded $11 billion in withdrawals during a 46-hour period after reopening.

Deposits of $6 billion left the exchange with roughly $5 billion in net outflows.

Co-founder Changpeng Zhao stated that most withdrawn funds went to self-custody wallets.

Binance covered the financial impact of the hack directly from its own balance sheet.

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