Binance hemorrhages $7B in outflows after cyber heist, OKX gains ground
Binance $BNB resumes withdrawals following a massive $3.6 billion cyber theft, according to CNBC and Reuters. However, the exchange faces a confidence crisis with users pulling over $7 billion in funds, as reported by Cointelegraph. Competing platform OKX $OKX captures $445 million in net inflows as clients migrate.
The heist underscores rising cybersecurity risks in cryptocurrency exchanges and marks one of the sector's largest security breaches. Recovery of stolen assets and restoration of trust remain critical challenges for Binance.