Binance to resume withdrawals in phases from today; 95% of the hacked loss is now covered

Withdrawals restart today, in phases

Binance says crypto withdrawals are coming back today. In Security Incident Recovery Update #4, an article posted on its official X account at 04:11 UTC on 1 November 2026 (05:11 in Amsterdam), the exchange said it is preparing to resume phase one of withdrawals between 06:00 and 09:00 UTC, which is 07:00 to 10:00 in Amsterdam.

The restart will not happen all at once. Binance says it is prioritising networks and assets based on user demand over the past week, so each network and asset pair can be reopened after its own stability and security checks. The phase one list is published as an image in the Binance article; further networks and assets will be added once they are ready, and Binance says it will share updates on its official X channel.

Binance has not said how long the remaining phases will take. Withdrawals were paused after the 29 October hot wallet hack, and the exchange says it kept them closed while it contained the loss, reviewed affected services and checked that its withdrawal infrastructure was ready.

What to expect when you withdraw

Before sending funds out, Binance asks users to check the withdrawal page for the asset and network they want to use, or its network status page, to confirm that the pair is available. A network that is not open yet is simply not part of the first phase.

During the first hours Binance expects temporary delays and longer processing times because of traffic. If a withdrawal on a listed network does not go through, the exchange says you can try again after a short while, and calls this expected during a phased rollout. Deposits have stayed open throughout and, according to Binance, are not affected by the incident.

About 95% of the loss is now covered

Binance also raised its recovery figure. It says it has now covered approximately 95% of the impacted amount, up from 90% in its previous update, by buying the remaining affected assets through market and OTC channels with company resources. The outstanding 5% are tokens outside the top ten, which Binance describes as less liquid and slower to source at the required scale.

Balances in BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are fully backed 100%, according to the update, which points users to the Proof of Reserves snapshot. Update #3 said the full zero-knowledge Proof of Reserves, which lets users check their own balance, is estimated by Tuesday 3 November (UTC).

Binance says it is working with law enforcement and industry partners to trace and recover the stolen funds, and will publish a post-incident report once the investigation is complete. It repeats that it will bear the financial impact of the stolen funds and that the losses will not be passed on to users. Exchange.news will report the next phases and the reserves proof when Binance announces them on its official channels.