Binance begins restoring withdrawals on 15 networks after security breach
In brief
- Binance said withdrawals would begin resuming Nov. 1 between 06:00 and 09:00 UTC.
- First phase covers 15 networks, including Bitcoin, Ethereum, XRP Ledger and Solana.
- About 95% of affected assets recovered, Binance says, up from 90% previously.
- About $6.3 billion in crypto was stolen from Binance's hot wallets, U.Today reported.
What's coming back first
Binance's announcement, as reported by U.Today, lists 15 networks in the first phase. Bitcoin, Ethereum, XRP Ledger, BNB Smart Chain, Solana, Tron and Dogecoin are on it. So are Zcash, Avalanche, Sui, Polygon and Arbitrum, and withdrawals of the USDT and USDC stablecoins are set to be enabled on multiple networks.
The exchange said it picked those assets based on user withdrawal demand over the prior week. It also warned that not every listed coin and network might be enabled at the same time (so this is a staged rollout, not a single switch).
"We aim to restore withdrawals progressively as we complete security and readiness checks," said Binance.
Deposits stayed open throughout the breach, according to the report.
The breach and the recovery numbers
Binance paused withdrawals to contain the damage, investigate the breach and avoid further losses. U.Today reported that the breach led to the theft of about $6.3 billion in crypto from the exchange's hot wallets; the report doesn't tie that figure to a Binance statement.
Binance has disclosed that it's recovered about 95% of the affected assets. That's up from 90% in its previous update. The exchange says balances of BTC, ETH, XRP, SOL, BNB, USDT, USDC, Zcash, USD1 and RLUSD are fully backed.
What about the other 5%?
According to U.Today, the remaining 5% is made up of less liquid cryptocurrencies that are harder to buy in large amounts.
What we can't confirm
LeoDex News couldn't independently verify the breach details or Binance's recovery figures. U.Today's report doesn't say how the breach happened or who was behind it.
For users with funds sitting on the exchange, the near-term picture is narrower than the headline numbers suggest. It's 15 networks first, enabled in stages, with timing tied to Binance's own security and infrastructure checks.
Frequently asked questions
Which networks are included in Binance's first phase of withdrawal resumption?
Binance said the first phase covers 15 networks, including Bitcoin, Ethereum, XRP Ledger, BNB Smart Chain, Solana, Tron and Dogecoin. Zcash, Avalanche, Sui, Polygon and Arbitrum were also listed, and USDT and USDC withdrawals were to be enabled on multiple networks. Binance warned that not all of them might be enabled at the same time.
How much of the affected assets has Binance recovered?
Binance disclosed that it has recovered about 95% of the affected assets, up from 90% in its previous update, according to U.Today. The exchange says balances of BTC, ETH, XRP, SOL, BNB, USDT, USDC, Zcash, USD1 and RLUSD are fully backed. LeoDex News could not independently verify these figures.
