OKX draws $445M in net inflows as Binance outflows exceed $7B

OKX recorded roughly $445 million in net inflows over a 24-hour window, the largest figure among tracked centralized exchanges. Over the same period, Binance logged the biggest net outflows, at more than $7 billion. The figures come from DefiLlama data reported by Cointelegraph on Monday, November 2, and republished by outlets including FXStreet and Crypto Briefing.

The outflows follow a security incident at Binance. Late Thursday, the exchange was hit by a hack of about $6.3 billion, which reports describe as the largest in cryptocurrency history. Binance suspended withdrawals on Friday, soon after the breach. It said it began restoring withdrawals in phases at 6:00 a.m. UTC on Sunday.

Binance said it had replenished about 95% of the affected assets by Sunday, up from roughly 90% on Saturday. The remaining 5% consisted of less liquid tokens, which the exchange said it was still buying through market and over-the-counter transactions.

Once withdrawals reopened, users began moving funds off the platform. DefiLlama's tracking showed Binance net outflows of about $5.8 billion earlier on Monday. That figure had risen to more than $7 billion by the time of the report. A net outflow is withdrawals minus deposits over a set period, so the figure reflects the balance of money leaving and entering the exchange, not only withdrawals.

OKX led the exchanges that gained funds. Other venues also drew deposits, according to a Traders Union summary of the Cointelegraph report. Bybit took in about $112 million, Gate about $91 million and Bitget about $54 million. Together with OKX, those four gains total well under $1 billion. That is a fraction of the amount that left Binance, so the departing funds were clearly not all moving to the next-largest exchanges. They may have gone to self-custody, to other platforms, or elsewhere. The reports do not say where the rest went.

Binance's scale is the key context for the numbers. At the time of writing, DefiLlama showed Binance holding about $127.9 billion in tracked wallets. That is more than four times the roughly $29 billion at OKX, the second-largest exchange by that measure. A $7 billion outflow is a meaningful reduction in Binance's tracked reserves, but it is a small share of the total. Crypto Briefing described it as a dent rather than a hollowing out.

The report also gave some token price moves. OKX's OKB token rose about 1.4% over the past 24 hours to trade near $113 on Monday, according to CoinMarketCap. BNB, the token associated with Binance, gained about 0.3% to around $708 over the same period. Those moves are small given the size of the exchange flows.

Exchange flow data like this comes from on-chain wallet tracking. Services such as DefiLlama identify wallets believed to belong to each exchange and add up the movements. The totals can differ between data providers and over different time windows, and they depend on which wallets are labeled as belonging to which exchange. The figures cited here are a snapshot from one data source at one time. They can change as more data comes in or as methodologies are updated.

The episode shows how a security incident at a major platform can quickly change where users keep their funds. The numbers cited are about activity that has already happened. They do not indicate how flows or prices will develop from here. Readers who want the full details can consult the original Cointelegraph report and the underlying DefiLlama exchange data.

This is a news summary for general information only — not financial advice, and nothing here is a recommendation to buy, sell, or hold any asset. Always verify against the original source and do your own research before making a financial decision.