Binance says it is preparing to reopen cryptocurrency withdrawals in phases on November 1 after covering about 95% of the $6.3 billion stolen during its October 29 security breach. In its latest recovery update, published on Sunday, the exchange said phase one is planned between 06:00 and 09:00 UTC, or 11:45 a.m. to 2:45 p.m. Nepal time.
Withdrawals will return network by network and asset by asset, rather than all at once. Binance said the first phase covers Bitcoin, Ether, BNB, Solana, XRP, Dogecoin, Zcash and several stablecoins across supported networks. Customers should check the status of the specific coin and network before attempting a transfer. Deposits remain open and were not affected by the withdrawal suspension.
Binance said balances for BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now fully backed. The exchange has covered about 95% of the affected amount, while the remaining 5% consists of less-liquid tokens outside that group that take longer to source. Binance said it will absorb the financial impact of the theft rather than pass the losses on to users.
The planned restart follows a temporary pause imposed after attackers drained the exchange’s hot wallets. Binance’s previous recovery update said it had covered 90% of affected assets. Its initial incident disclosure pointed to a compromised DevOps engineer’s laptop, while the investigation continued. The FBI later attributed the theft to North Korea’s TraderTraitor group and said the stolen funds were being converted mainly into Ethereum.
Reuters independently reported the planned phased reopening and the 95% replenishment figure. Binance said it will continue monitoring the platform and completing security checks as services return.
What users should do
Before withdrawing, check Binance’s official withdrawal page or network status page for the exact asset and network. Expect delays during the phased rollout and check service status before retrying. Open the official Binance app or website directly, and ignore unsolicited messages asking you to click a recovery link, verify your wallet, or pay a fee to unlock funds.
If this article helped you, please consider supporting our work. Every small contribution keeps Abijita.com independent and running.
