📊 Regarding the monitoring of CEX data inflow about a week after the Bybit theft case! Today, the Bybit coin thief spent ten days cleaning all 499000 ETH, and in everyone's memory, this theft event has come to an end; Clearing Ethereum to some extent is also a good thing, allowing Ethereum to complete a sufficient turnover. If there is a disk pulling action later, this wave of washing will be very thorough; During the period of the theft incident, I monitored the fund flow between CEX and Bybit exchange after the theft and found an interesting trend: Let me organize the entire process: 1) Background—— Bybit was hacked on February 21, 2025, resulting in a loss of approximately $1.5 billion and becoming the largest cryptocurrency theft case in history. This incident has raised concerns in the market about the security of exchanges, causing funds to flow out of affected platforms and concentrate on exchanges that are considered safer. I mainly looked at the funds that escaped from Bybit, where they went, and where they were kept! 2) Short term capital flow—— Research data shows that in the week following the Bybit hacking attack, there was a clear trend of concentrated market funds flowing into Binance. Binance's weekly net inflow of funds reached $3.971 billion, while the total net inflow of the other nine top exchanges (excluding Bybit) was $396.83 million. Calculations show that the inflow of funds into Binance is 10 times the total of the other 9 exchanges (39.71/3.9683 ≈ 10). This phenomenon reflects that during emergencies or market fluctuations, investors tend to transfer their funds to platforms that are considered safer and more stable, and Binance is currently the top choice! 3) Long term capital trend—— According to data from February 2025, Binance's net inflow for the month reached $5.323 billion, while the total net inflow from the other 9 exchanges (excluding Bybit) was $1.229 billion (Bitget data missing). Binance's net inflow of funds is 4.33 times the total of these 9 exchanges. In addition, Binance's net inflow of funds is seven times that of the second ranked Bitfinex ($768.19 million). According to historical data from DefiLlama, Binance has had a net inflow of over $3 billion in six out of the past 12 months, with November 2024 reaching $9.2946 billion, the highest value of the past year. Summary—— The Bybit hacking incident revealed the dynamic response of the cryptocurrency market in the face of security threats. In the short term, investors tend to withdraw funds from affected exchanges and concentrate on platforms such as Binance, which are considered safer. This behavior reflects the high sensitivity of the market to the security of exchanges. In the long run, Binance's sustained leading position may be attributed to its strong technological infrastructure, regulatory compliance, multiple large-scale coin withdrawal stress tests, and the trust of its global user base. Finally, let's leave an introduction and discuss together: Of course, if there are problems with Binance, such as large-scale withdrawal events like those caused by regulatory turmoil and FTX incidents in history, where would people move their money? I withdrew my cold wallet back then! How did you do it? Data reference: https://(defillama.com)/cexs