Binance Resumes Phased Withdrawals, Claims 95% Coverage of $6.3 Billion Stolen Assets
Global crypto exchange Binance announces phased withdrawal resumption after a record hack. The company self-reports covering 95% of stolen assets, though some networks remain restricted and a full incident report is pending.
Global cryptocurrency exchange Binance announced early on Sunday, November 1, 2026, that it would begin allowing withdrawals in a phased process. This follows the freezing of all deposits and withdrawals after hackers stole $6.3 billion worth of crypto from Binance wallets. According to TechCrunch, Binance stated in its latest update that it has now "covered 95% of the stolen assets" and is still working to buy the "remaining affected assets," which are described as less liquid and requiring more time to source at scale.
Binance emphasized: "Our commitment remains unchanged: Binance will bear the financial impact of the stolen funds." The company stated these losses will not be passed on to users. Regarding the initial freeze, Binance noted it was a necessary precaution while teams worked to contain the incident loss, assess impact, restore services, and complete security checks.
Withdrawal resumption depends on network and asset type. As of Sunday morning, Binance's network status page showed mixed statuses: Bitcoin withdrawals and deposits remained partially suspended, while Ethereum deposits were normal but withdrawals were partially suspended. Users were warned to expect temporary delays due to traffic volume.
On attribution, Binance previously blamed North Korean hackers. On Saturday, the U.S. Federal Bureau of Investigation (FBI) confirmed a North Korean group known as TraderTraitor was responsible, stating the group was converting assets primarily into Ethereum with further laundering likely. Binance plans to publish a more in-depth incident report upon completion of its investigation.