Are Users Returning? Binance Gains $3.4B in Tracked Assets After Hack

Gate's tracked assets slipped to $5.943 billion, and Bitstamp barely moved, so not every major rival gained ground. Binance’s tracked assets rose by $3.423 billion in two days after the exchange resumed withdrawals following its October 29 hack. This is according to figures shared by crypto commentator Tuan Nguyen, with the increase coming as the exchange tried to recover from heavy outflows. Balance Climbs After Withdrawals Reopen Nguyen shared two snapshots, with the earlier one, from November 2 and gotten from DefiLlama, showing the exchange holding tracked assets worth $128.87 billion, after more than $6.14 billion flowed out in 24 hours. Meanwhile, competitors like OKX and Bybit, respectively, saw inflows of $450.1 million and $121.8 million to take their asset values to just over $29 billion for the former and almost $15 billion for the latter. As the market watcher pointed out, Binance is so big that that 24-hour outflow was still more than all the assets held by the likes of Gate, Bitget, Gemini, Bitstamp, and MEXC. “Imagine this kind of pressure hitting another exchange. Things could have turned out much worse,” concluded Nguyen. Now, the second snapshot, from November 4, ...