Binance Defends Against Outflow FUD, Citing Past Data Restorations

Binance has responded to market concerns over on-chain data anomalies highlighted by third-party trackers Coinglass and DefiLlama. The exchange noted that similar past discrepancies with DefiLlama have been resolved, expecting data restoration in 24-48 hours.

Binance encouraged users to verify their holdings directly while suggesting regular withdrawal tests across platforms. It also directed users to its proof-of-reserves page for personal asset checks and pointed to CoinMarketCap for total balances.

Coinglass had highlighted discrepancies based on public data, drawing hostile reactions from the exchange. Binance described the data as unvalidated from third parties, echoing a 2025 incident where Coinglass showed $21.75 billion outflows, contradicted by DefiLlama's $900 million inflows.

DefiLlama data often counters such claims, showing net inflows for Binance. The clashes reveal inconsistencies in third-party tracking and highlight the scrutiny exchanges face over transparency.