Binance Attracts Investors After Bybit Hack, Funds Flow Increases Sharply!

Jakarta, Pintu News – After the shocking Bybit hack incident, Binance managed to attract a significant amount of investor funds. Within a week of the incident, Binance recorded a net inflow of $3.9 billion. During the month of February, the total net inflow received by Binance reached $5.323 billion, showing strong investor confidence and demand amid market uncertainty.

Mass Move to Binance

The Bybit hack on February 21, carried out by North Korea’s Lazarus Group, became the largest theft in crypto history with losses reaching $1.5 billion. As a result, Bybit saw a drastic drop in the crypto exchange rankings, from the second largest in the world to eleventh.

Meanwhile, Binance, already the largest crypto exchange by 24-hour trading volume, has further strengthened its position with a significant increase in users. Since the hack, Bybit has experienced an unprecedented amount of withdrawals.

Bybit’s CEO, Ben Zhou, revealed that there have been over 350,000 withdrawal requests, with 99.994% of them having been successfully processed. This situation prompted many users to switch to Binance, seeking more guaranteed security and stability.

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Strengthening Binance’s Position as Market Leader

Binance has not only managed to attract large investor funds, but has also continued to strengthen its position as the largest centralized exchange. In the past two years, Binance has faced significant legal challenges and regulatory scrutiny. However, the exchange now appears to be making progress in proactively complying with regulations.

Recently, Binance delisted Tether (USDT) and other MICA-compliant stablecoins in Europe, and restarted USD deposits on Binance.US, almost two years after facing allegations from the US Department of Justice. These improvements show that despite the challenges, Binance continues to gain the trust of users. The high inflow, especially after the Bybit hack, signifies that Binance is still a top choice for many investors in the crypto market.

Industry Response and the Future of Binance

The Bybit hack has shaken the entire crypto industry, but the resilience shown by the exchange has been praised. Despite this, Binance continues to show significant user growth, with no competitors coming close. This incident not only confirms Binance’s position as a market leader, but also as a safe and reliable place for investors to transact.

By continuing to innovate and strengthen security, Binance is expected to continue to lead the market and attract more users in the future. The trust given by users is a valuable asset that Binance will continue to nurture.

Conclusion

In a crypto world full of uncertainty, Binance has managed to demonstrate resilience and high trust from its users. The Bybit hack has been a watershed moment that shows the importance of security and stability in choosing a crypto exchange. Binance, with all its efforts and innovations, continues to be at the forefront of the industry, offering safe and reliable services to its millions of users.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• BeInCrypto. Binance Net Inflow Surges After Bybit Hack. Accessed on March 6, 2025
• Featured Image: Watcher Guru