Three days after the cyberattack, Binance restarts cryptocurrency withdrawals

Three days after a record $6.3 billion hack, Binance began reopening withdrawals. The cryptocurrency exchange platform claims to have already replenished 95% of the funds stolen by the hackers. It also promises that its customers will not be harmed by the theft.

This Sunday, November 1, 2026, Binance began to reopen cryptocurrency withdrawals. Three days earlier, the world's largest cryptocurrency exchange suffered a major intrusion into its wallets. By exploiting an engineer's compromised PC, hackers siphoned off the exchange's wallets. Around $6.3 billion in cryptocurrencies disappeared in around twenty minutes. This is the biggest theft in crypto history.

The resumption of withdrawals is intended to be gradual. Initially, Binance focused on bitcoin, ether, BNB, Solana and XRP withdrawals. Bitcoin started the ball rolling, followed by withdrawals of ether, BNB and the stablecoins USDT and USDC on the Ethereum and BNB Smart Chain networks.

Withdrawals have now been restored for the following assets and networks:

– Ethereum Network: USDC, USDT, ETH – BNB Smart Chain (BSC): USDC, USDT, BNB

We will continue to restore additional assets and networks in phases following the completion of our security checks. Further updates will be shared through official Binance channels.

As Binance explains, each network is only reopened following a series of security checks. The platform has committed to reopening withdrawals for other digital currencies “in stages”, without a precise timetable. Binance gives priority to the cryptocurrencies most requested by its users. The deposits have never been interrupted.

Unsurprisingly, many customers rushed to withdraw their funds from Binance accounts. Sunday afternoon, Binance processed $4.6 billion in withdrawals, for 1 billion deposits, report our colleagues at The Guardian. The exchange therefore recorded a net outflow of around $3.6 billion, or a little more than 2% of the $171 billion in assets entrusted to the platform.

As Ari Redbord, head of public policy at TRM Labs, explains to Reuters, this is a “precautionary reaction rather than a real capital flight”. Binance also indicates that “withdrawal volumes have decreased and are stabilizing as expected”. In short, investors are not fleeing Binance, despite last week's cyberattack. Binance's situation is not comparable to that of FTX, which closed its doors in a few days in 2022 following a massive exodus of users and capital.

Machine-translated from French