Binance to Resume Withdrawals in Phases on Nov. 1, Says 95% of Loss Covered

Binance said it will resume phase one of withdrawals on Nov. 1 between 06:00 and 09:00 UTC, according to its fourth recovery update. Deposits remain open and unaffected by the incident. The first phase covers 15 networks with selected assets: BTC; ETH (ETH, USDT, USDC); BSC (BNB, USDT, USDC); TRX (TRX, USDT); SOL (SOL, USDT, USDC); XRP; ZEC; DOGE; TON (USDT, GRAM); Polygon (POL, USDT, USDC); Avalanche C-Chain (AVAX, USDT, USDC); Arbitrum (ETH, USDT, USDC, ARB); Base (ETH, USDC); Optimism (ETH, USDT, USDC); and Sui (SUI). Binance said it prioritized networks and asset pairs based on the past week's user demand data, so each can be restored with stability and security checks completed first. More networks and assets will be added as they become ready. Users can confirm availability on the withdrawal page or the network status page, and may see temporary delays or longer processing times during the initial rollout given traffic volume; failed attempts can be retried after a short while. On recovery, Binance said it has now covered about 95% of the impacted amount, up from roughly 90% in its previous update. Balances in BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are 100% backed and verifiable through the proof-of-reserves snapshot. The remaining 5% involves tokens outside the top ten by liquidity, which take longer to source at scale through market and OTC channels. The exchange said withdrawals were paused as a precaution to contain the loss, assess impact and complete security checks, while teams ran enhanced reviews, verified withdrawal infrastructure, worked with law enforcement and industry partners on tracing and recovery, and replenished affected assets using company resources. Binance reiterated that it will bear the financial impact and that losses will not be passed to users. A post-incident report will follow once the investigation concludes. Read Less