Crypto exchange Binance began restoring withdrawals for selected assets on Nov. 1, 2026, after suspending them as a precaution following a security incident. The phased reopening gives users access to six asset-network combinations while the exchange completes security checks before restoring additional services.

Withdrawals are available for USDC, USDT and ETH on the Ethereum network, and for USDC, USDT and BNB on BNB Smart Chain, Binance said in a statement on X.

Binance had earlier said it planned to begin the first phase between 06:00 and 09:00 UTC on Nov. 1. The exchange said it would reopen other assets and networks gradually after completing security checks. The restoration order depends in part on user demand during the previous week.

The company warned that heavy traffic could cause delays during the initial reopening and advised users to try again later if a transaction failed. Deposits remained available throughout the incident and were not affected by the withdrawal suspension, it said.

Binance says it covered 95% of affected assets

Binance said it temporarily halted withdrawals while its team checked affected services, assessed whether its infrastructure was ready to resume operations and monitored remaining risks. The exchange also said it was working with law enforcement and crypto-industry representatives to trace and recover stolen funds.

In a preliminary update, Binance said it had covered about 90% of the affected amount. It later raised that estimate to about 95% and said it was continuing to acquire the missing assets through market purchases and over-the-counter channels.

According to Binance, the remaining 5% involves tokens outside the 10 largest listed assets. Their lower liquidity makes it more difficult to acquire the required volumes, the exchange said.

Binance also said balances in BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC were fully backed on a 1:1 basis. It said the relevant figures could be checked on its proof-of-reserves page.

“Binance will bear the financial impact of the stolen funds. These losses will not be passed on to users,” the company emphasized.

The exchange said it would publish an incident report after completing its investigation and would continue working with partners and law enforcement to recover the assets.

Binance set aside more than $6.3 billion to cover losses from the hack. The Federal Bureau of Investigation attributed the Binance hack, valued at more than $6 billion, to North Korea.

Source: Incrypted