Binance outflows hit $11 billion after record hack
In short
Binance saw nearly $11 billion leave its exchange over 46 hours after a record hack. CEO Richard Teng said deposits were starting to beat withdrawals by the hour.
This matters because heavy outflows can shake trust in a crypto exchange and pressure trading activity. The report does not say how much was stolen, which assets were hit, or whether the situation is fully under control.
What the reporting says
Binance saw nearly $11 billion leave the exchange over 46 hours after a record hack, according to a publisher summary. CEO Richard Teng said hourly deposits were beginning to exceed withdrawals, suggesting recovery was underway. The reporting does not state the exact size of the hack in the excerpt, what assets were affected, or whether the outflow trend fully reversed.
Why it matters
Binance saw nearly $11 billion leave the exchange over 46 hours after a record hack, based on a publisher summary. CEO Richard Teng said hourly deposits were beginning to exceed withdrawals, which points to some recovery in flows. The report does not say how large the hack was, what was compromised, or whether customer confidence has fully stabilized.