Binance Begins Phased Crypto Withdrawals Following Major Security Incident
Global cryptocurrency exchange Binance is set to begin a phased restoration of digital asset withdrawals on November 1, following temporary operational restrictions triggered by a recent major security incident. In an update posted on X, Binance Co-Founder and Chief Customer Service Officer Yi He confirmed that the initial rollout will take place between 06:00 and […] The post Binance Begins Phase
In an update posted on X, Binance Co-Founder and Chief Customer Service Officer Yi He confirmed that the initial rollout will take place between 06:00 and 09:00 UTC.
Binance is preparing to resume phase one of withdrawals on 2026-11-01 between 06:00 and 09:00 (UTC).
The first batch open for withdrawal covers 15 currencies across the 15 networks shown in the chart. Wallets for other currencies are still undergoing repeated security audits and perimeter checks which will be prioritized based on the platform’s market cap, locked funds, and user base. The remaining tokens are being processed as quickly as possible. Thank you for your support and understanding💁🏻♀️
The first phase covers 15 major blockchain networks, restoring withdrawal functionality for primary digital assets including Bitcoin (BTC), Ethereum (ETH), BNB, Tron (TRX), Solana (SOL), XRP, Dogecoin (DOGE), Avalanche (AVAX), and major stablecoins such as USDT and USDC.
The exchange clarified that wallets associated with other tokens remain under ongoing security audits and perimeter checks. Restoration timelines for unlisted tokens will be prioritised based on market capitalisation, user base size, and liquidity constraints.
Addressing financial losses from the breach, Binance revealed it has successfully replenished approximately 95% of the affected funds using company resources through market purchases and over-the-counter transactions. Balances across top assets—including BTC, ETH, USDT, BNB, and SOL—are now fully backed by reserves.
The exchange reiterated its commitment to absorb all financial impacts stemming from the attack rather than passing losses onto its user base.
Binance cautioned that initial transaction processing times may experience brief delays due to heightened network traffic. While deposits remain fully operational, the platform plans to release a comprehensive post-incident security report once internal investigations and law enforcement coordination conclude.
