Binance Reopens Withdrawals in Phases
Cryptocurrency giant Binance announced it would partially resume user withdrawals on November 1, 2026, implementing a phased approach after a significant security incident. The initial phase will cover 15 blockchain networks, with selected cryptocurrencies and stablecoins available for withdrawal.
Yi He, Co-Founder and Chief Customer Service Officer at Binance, confirmed the development via a post on X, stating that withdrawals would reopen between 06:00 and 09:00 UTC on November 1.
Which Cryptocurrencies Are Available?
According to Binance's recovery update, the first batch of supported assets includes major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), BNB, Tron (TRX), Solana (SOL), XRP, Zcash (ZEC), Dogecoin (DOGE), TON, Polygon (POL), Avalanche (AVAX), Arbitrum (ARB), Base, and Sui (SUI). Additionally, popular stablecoins like USDT and USDC will also be available.
Wallets for other cryptocurrencies are currently undergoing continuous security audits and perimeter checks. Binance stated that the restoration of these remaining tokens would be prioritized based on factors such as market capitalization, locked funds, and user base, with processing occurring as quickly as possible.
Understanding the Security Incident
The suspension of withdrawals followed a major security breach that compelled the cryptocurrency exchange to temporarily restrict user access. This measure was taken to allow Binance to thoroughly assess the extent of the breach and secure its affected infrastructure.
In response, Binance undertook enhanced security reviews, rigorously assessed its withdrawal infrastructure, and collaborated with law enforcement agencies and industry partners. These efforts focused on tracing the movement of stolen cryptocurrency and identifying the entities responsible for the complex attack.
Binance's Recovery Efforts and User Impact
Alongside the withdrawal resumption announcement, Binance provided an update on its asset recovery efforts, confirming that approximately 95% of the impacted amount has been covered. This figure represents an increase from its previous estimate of 90%. The exchange has been replenishing the affected assets through market transactions and over-the-counter channels, utilizing company resources.
Binance noted that the outstanding 5% primarily consists of tokens outside the top 10, which are less liquid and require more time to source in the necessary quantities. The exchange reiterated its commitment to absorbing the financial impact of the stolen funds, ensuring that no losses are passed on to its customers.
Users should anticipate potential temporary delays or longer processing times during the initial rollout due to increased transaction volumes. If a withdrawal for a supported asset or network fails, users are advised to try again after a short interval. Deposits, however, remain unaffected by the withdrawal suspension.
Binance affirmed it would continue to monitor the platform as services return to full capacity and will provide further updates on the remaining networks and assets, with a detailed post-incident report planned upon investigation completion.