Binance Sees $5.8 Billion Outflows as Withdrawals Resume After Major Hack

Binance has experienced net outflows totaling $5.8 billion as customer withdrawals resumed following a record hack, according to CoinTelegraph. This marks a significant movement of funds away from the platform in the wake of the security breach.

Despite the large outflows, CoinTelegraph notes that the amount represents only a small fraction of Binance's total customer assets, which are estimated to be around $171 billion. This suggests that while withdrawals have increased, the majority of assets remain on the exchange.

For Japanese investors and traders, these developments underscore the ongoing risks in crypto markets, emphasizing the importance of security and liquidity considerations when dealing with major exchanges like Binance.