Binance Has Partially Resumed Withdrawals Following The Hack
- 1.11.2026, 20:32
The exchange stated that it has covered 90% of its losses and continues to replenish its reserves.
Following a hack, the Binance cryptocurrency exchange has partially resumed withdrawals. This was announced in posts by the exchange on the social media platform X.
The exchange first restored ETH withdrawals, USDT, and USDC via the Ethereum network, as well as BNB, USDT, and USDC via the BNB Smart Chain. In a subsequent post, Binance announced the resumption of Bitcoin withdrawals via the Bitcoin network, as well as XRP and Dogecoin withdrawals via their respective networks. Withdrawals of ETH and USDC via Base, as well as ETH, USDT, and USDC via Optimism, are now also available.
“We will continue to gradually restore withdrawals of additional assets and the operation of other networks as security checks are completed. Further updates will be published through Binance’s official channels,” the exchange stated.
Binance was attacked on the night of October 30. According to the exchange’s preliminary estimate, the attackers stole approximately $6.3 billion worth of cryptocurrency. The platform suspended deposits and withdrawals, launched a security audit, and promised to fully cover users’ losses.
According to preliminary findings from an internal investigation, hackers gained access to the personal laptop of one of the engineers and, through it, to an internal system that allowed transactions to be processed. Binance found no evidence of a leak of private wallet keys. The company later reported that it had identified additional points of compromise.
Preparations for the attack began at least 36 hours before the theft, according to experts at TRM Labs. According to their data, the attackers first tested the scheme with small transfers across ten blockchains. The bulk of the funds was withdrawn in about 20 minutes shortly before midnight.
Together with its partners, Binance managed to freeze approximately $3 billion in stolen assets. While the freeze prevents the cryptocurrency from being moved further, it does not in itself guarantee its return to the exchange.
On October 31, Binance announced that it would cover 90% of users’ losses following the hack. To cover the losses, the company set aside more than $6.34 billion and reported that it fully backs a number of assets, including Bitcoin, Ethereum, USDT, BNB, Solana, USDC, and XRP. To cover the damages, it will use funds from the SAFU user protection fund, a portion of the futures insurance fund, and its own corporate funds.
The FBI has attributed North Korea with the theft, linking the attack to the TraderTraitor group. According to the FBI, the U.S. Secret Service, and the Criminal Investigation Division of the Internal Revenue Service, the attackers are converting the stolen assets primarily into Ethereum. U.S. law enforcement officials believe the funds will then be laundered through decentralized finance services and instant cryptocurrency exchange platforms.