Binance Resumes Crypto Withdrawals After $6.3 Billion Hack
Written with artificial intelligence.
Binance has reopened withdrawals for several cryptocurrencies, including Bitcoin, following a significant $6.3 billion hack. The phased restoration began on November 1, 2026, with a focus on ensuring security.
Withdrawal Resumption Details
Binance has started allowing users to withdraw their cryptocurrencies following a massive hack that resulted in the theft of approximately $6.3 billion. The first phase of withdrawals began on November 1, 2026, from 06:00 to 09:00 UTC, with Bitcoin payouts being prioritized.
In addition to Bitcoin, users can also withdraw Ethereum, USDT, USDC, BNB, and XRP. Binance plans to open additional phases of withdrawal once each blockchain successfully completes required security checks.
Security and Fund Assurance
Following the exploit, which involved the theft of 18,270 BTC and significant amounts of other cryptocurrencies, Binance has assured users that their funds are safe. The exchange has replaced about 95% of the affected assets using its own funds, including reserves from its Secure Asset Fund for Users. Users can verify the proof of reserves on Binance's dedicated website.
Financial Impact and Recovery
Binance has committed to absorbing the financial losses from the hack, stating that users will not incur any costs related to the stolen funds. Approximately $3 billion of the stolen assets are currently frozen, primarily in stablecoins, while the remaining assets are being sourced through market channels. The exchange is also working on a comprehensive proof-of-reserves report to confirm its asset holdings.
This article is for information only and is not investment advice.