CoinDesk
Binance began reopening customer withdrawals in phases on Sunday, starting with Bitcoin and assets on 15 other blockchains. The first withdrawal window ran from 06:00 to 09:00 UTC on November 1, 2026, days after an exploit the exchange valued at about $6.3 billion. Further withdrawals depend on security and stability checks for each blockchain.
Binance said it had replaced about 95% of affected assets using company funds, up from 90% in its prior update. The remaining 5% consists of tokens outside the top ten assets it listed, which the exchange said are less liquid and take longer to source at scale. Binance says customers will not bear the losses.
Why it matters
The staged restart puts access to customer funds back in focus, but also makes each network's security and stability a condition for reopening. The exchange says it is prioritizing networks based on recent user demand and will expand access only after further checks.
Binance said balances in BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are fully backed. It also said its Secure Asset Fund for Users is part of the resources being used to cover affected assets, and promised a full proof-of-reserves report.
Market impact
About $3 billion of the stolen funds has been immobilized, largely in USDT and USDC, whose issuers can block tokens. Bitcoin and ether cannot be frozen in the same way, Binance said. Blockchain analytics firms attributed the exploit to TraderTraitor, a North Korean-linked entity; TRM Labs said 18,270 BTC, worth about $1.47 billion, were stolen.
The recovery effort and phased withdrawal schedule are key measures for customer confidence, but the exchange has not yet completed replacing the affected assets. The pace of further withdrawals will depend on the security and stability checks, while the promised proof-of-reserves report is another milestone for users to watch.
Frequently asked questions
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Which withdrawals did Binance reopen first?
The first phase included Bitcoin and assets on 15 other blockchains. Binance said further withdrawals depend on security and stability checks for each blockchain.
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How much of the affected assets has Binance replaced?
Binance said it had replaced about 95% of affected assets using company funds, up from 90% in its prior update. It said the remaining 5% consists of less-liquid tokens outside the top ten it listed.
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Will Binance customers bear the losses from the hack?
No. Binance said it will absorb the financial impact and will not pass the losses on to users.
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How much of the stolen crypto has been immobilized?
Binance said about $3 billion has been immobilized, largely in USDT and USDC. It said Bitcoin and ether cannot be frozen in the same way.
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What recovery and transparency steps has Binance promised?
Binance said it is using company funds, including its Secure Asset Fund for Users, to replace affected assets. It has also promised a full proof-of-reserves report.
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