Coinbase saw a significant increase in user withdrawals on Monday and Tuesday, with net outflows totaling $600 million over a 24-hour period, according to data from Nansen. This surge in withdrawals came after the SEC filed a lawsuit against the crypto exchange for violating federal securities regulations. Traders withdrew $1.38 billion of cryptocurrencies during this period, compared to $771 million of deposits, excluding bitcoin transfers. Similarly, Binance also experienced a surge in withdrawals, with net outflows surpassing $1.2 billion over the past 24 hours according to Nansen data.