Binance opens second withdrawal phase after reported $6.3 billion hack
In brief
- Binance's second withdrawal phase was scheduled to begin progressively from 04:00 UTC on Tuesday.
- Rollout follows Binance's initial Nov. 1 reopening after a $6.3 billion hack, per Cointelegraph.
- DefiLlama data showed net outflows of $2.57 billion Monday versus $6.1 billion Sunday.
- Binance warned scammers may impersonate the exchange and sell faster or priority withdrawals.
What's in phase two
Binance said the reopening would roll out progressively across assets as security and readiness checks are completed, the same approach it took in phase one. It's not one switch for everything. The exchange said it's prioritizing tokens based on user demand over the past week, so the timing for any single asset depends on those checks rather than a fixed hour.
Networks in the second phase include Binance Smart Chain, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base, according to Binance. On Monday, the exchange said it had also reopened withdrawals for several fiat currencies, including the US dollar, UAE dirham, Vietnamese dong, Philippine peso and Indonesian rupiah (those join 23 other currencies that were already available).
Deposits, for what it's worth, remain available.
Outflows slow, per DefiLlama
Cointelegraph reported that data show withdrawal volumes have started to stabilize. DefiLlama figures cited by Cointelegraph put Binance's net outflows at $2.57 billion on Monday, compared with $6.1 billion the day before. Outflows have slowed since Sunday, according to that data.
Those numbers come from DefiLlama's tracking, not from Binance itself. The $6.3 billion hack figure comes from Cointelegraph's reporting.
Binance flags impersonation scams
There's a security angle beyond the hack, too. Binance warned that scammers could exploit the phased reopening by impersonating the exchange and offering accelerated withdrawals. According to the exchange, those schemes might sell priority processing, offer help claiming compensation or direct users to move assets into a purported "Binance vault."
Binance's message on that point was blunt.
“Anyone promising to expedite it for a fee is scamming you,” Binance said.
For now, Binance says the rollout keeps moving asset by asset as its security and readiness checks wrap up.
