More than $780 mln was withdrawn from Binance overnight - right after a lawsuit from the U.S. regulator

The data analysis company Nansen reports that investors have withdrawn around $780 million from the Binance cryptocurrency exchange in the last 24 hours.

At the same time, the affiliated exchange Binance in the USA has registered a net outflow of $13 million. Neither Binance nor Binance.US have provided official comments at this time.

Netflow to Binance over the past 24 hours is $778.6M negative on Ethereum — $871.7M in and $1.65B out

Over the past hour, netflow on Ethereum continues to be negative at $35.7M on Ethereum — $14.8M in and $50.5M out

Track it here https://t.co/nwTgpXWhZY and filter for «Binance» pic.twitter.com/jnNAN0QKVy

— Nansen 🧭 (@nansen_ai) June 6, 2023

The day before, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance and its owner Changpeng Zhao, accusing the cryptocurrency exchange of illegal activity and defrauding investors:

"The defendants have enriched themselves with billions of dollars, risking significant investor assets," the document states.

In an official statement, Binance expressed being "disappointed" by the SEC's complaint, especially after the "active cooperation" between the exchange and the commission during the investigation. The company denies all allegations.

It is worth noting that in March, another U.S. regulator, the Commodity Futures Trading Commission (CFTC), filed a lawsuit against Binance. The accusations, totaling 47 pages, included allegations of the cryptocurrency exchange and its owner ignoring U.S. regulatory requirements and even engaging in terrorist activities.