Binance Disputes $3.76 Billion Outflow Report, Cites Data Errors from CoinGlass
Binance denies the $3.76 billion net outflow reported by CoinGlass, attributing discrepancies to data errors and clarifying its actual outflows at $46.58 million over 24 hours.
Summary
Binance refuted claims of $3.76 billion in 24-hour net outflows, attributing the error to third-party data issues from CoinGlass and DeFiLlama. Binance’s actual net outflows were reported at $46.58 million over 24 hours, with a smaller $19.14 million over seven days. The exchange emphasized that all operations remain stable, urging users to perform annual asset verification tests.
Terms & Concepts
- Coinglass: A crypto analytics platform that tracks exchange inflows, outflows, and derivatives data.
- Outflow: The total value of assets withdrawn from a crypto exchange over a specific time period.
- Third-party data provider: An external service that supplies analytics or metrics, often used by exchanges and financial news outlets.