TLDR
Binance withdrawals reopened in phases after its $6.3 billion security breach, with Bitcoin becoming the first network to reopen as the exchange works to restore access to customer funds.
Binance has started the first phase of its withdrawal recovery plan after suspending services following Thursday’s massive cryptocurrency theft.
The exchange confirmed on November 1 that Bitcoin withdrawals were the first to become available under the phased rollout.
The decision follows several days of security assessments and recovery efforts after the attack, which the FBI has attributed to North Korea-linked hackers.
Binance said it would gradually restore withdrawal services as individual networks and assets pass additional security and stability checks. The exchange is prioritizing assets based on customer demand over the previous week.
Binance Withdrawals Reopened Across Multiple Networks
The initial phase covers Bitcoin and assets operating across several major blockchain networks, including Ethereum , BNB Chain, Solana , XRP Ledger, and other supported networks.
Available assets include BTC, ETH, BNB, SOL, XRP, DOGE, ZEC, and several stablecoins, including USDT and USDC. However, availability is being restored progressively, meaning users may need to check the exchange’s withdrawal page to confirm whether their selected asset and network are operational.
Binance has also warned that users could encounter temporary delays, network congestion, or unsuccessful withdrawal attempts while services return. The exchange advised customers to retry after a short period if a transaction cannot be processed.
Deposits remained open during the incident, according to Binance’s recovery update.
Binance Covers 95% of Stolen Assets
The withdrawal reopening follows Binance’s latest recovery update, in which the exchange reported that it had covered approximately 95% of the affected assets, up from 90% in its previous announcement.
Binance said it was using company resources, including its Secure Asset Fund for Users (SAFU), futures insurance fund, and corporate treasury, to replace the stolen cryptocurrency.
The remaining 5% consists primarily of less-liquid tokens that require additional time to acquire through market purchases and over-the-counter transactions.
The exchange has reiterated that customers will not bear the financial impact of the theft.
FBI Investigation Adds Pressure on Crypto Industry
The FBI has identified North Korea-linked hacking group TraderTraitor as responsible for the attack and urged cryptocurrency businesses to block transactions connected to identified wallet addresses.
Blockchain analytics firms and other industry participants have been working to trace the stolen funds and prevent further laundering.
Although reopening withdrawals marks an important step toward normal operations, Binance’s recovery process remains ongoing. Additional services will return as the exchange completes its security checks and confirms that affected networks can operate safely.
