TLDR
- Binance reopened Bitcoin withdrawals on Nov. 1, the first network back after its $6.3 billion hack.
- The exchange says it has replaced about 95% of the stolen assets, up from 80% and then 90%.
- The first phase covers selected coins on 15 networks, but each route needs security checks before it opens.
- Binance is using company funds, part of its SAFU reserve and extra futures insurance money to cover losses.
- A full proof of reserves is expected by Nov. 3, and there is no date yet for the second withdrawal phase.
Binance reopened Bitcoin withdrawals on Sunday, Nov. 1, after a $6.3 billion hack forced the exchange to pause services. Bitcoin is the first network to resume.
Founder Changpeng Zhao confirmed the change in a short post on X. He wrote, “BTC withdrawal is live.”
BTC withdrawal is live. https://t.co/Q4jgiJ4Fup
— CZ 🔶 BNB (@cz_binance) November 1, 2026
Binance also said it has replaced about 95% of the stolen assets. That is up from 80% in an earlier update and 90% on Saturday.
How Binance Is Covering the Losses
Binance said it set aside more than $6.34 billion in company funds, including $5 billion in the affected cryptocurrencies. Partners such as Tether and Circle froze about $3 billion in stolen assets, which is separate from that amount.
The replacement draws on the corporate treasury, extra reserves from the futures insurance fund and part of the Secure Asset Fund for Users, known as SAFU. Binance plans to restore SAFU to about $1 billion.
Balances in Bitcoin, Ether, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are fully backed, the exchange said. The last 5% is made up of less liquid tokens that take longer to buy.
Co-CEO Richard Teng said the company would absorb the losses. The exchange’s update said the cost falls on Binance, not its users.
The attack hit multiple hot wallets on Thursday, Oct. 29. TRM Labs and Chainalysis have linked it to TraderTraitor, a North Korea-linked hacking group.
Teng said investigators found more breach points beyond a suspected compromised employee laptop. Binance has promised a detailed incident report once the investigation ends.
Binance also published a new proof-of-reserves snapshot taken on Oct. 31. The full cryptographic proof is expected by Nov. 3.
Withdrawals Restart in Phases
The first phase covers selected cryptocurrencies across 15 blockchain networks. Binance set an opening window between 06:00 and 09:00 UTC on Sunday.
The list includes Ethereum, BNB Smart Chain, Tron, Solana, XRP Ledger, Zcash and Dogecoin. Polygon, Avalanche C-Chain, Arbitrum, Base, Optimism, TON and Sui complete it.
Engineers must finish security and stability checks for each asset and network pair. Being on the list does not mean every route opened at once.
Customers were told to check the withdrawal page before sending transactions. Binance warned that heavy traffic could cause delays.
Binance has not given a date for the second phase. Co-founder Yi He said the remaining wallets are going through repeated security audits.
She said other currencies will be ranked by market value, funds held and number of users. Deposits remain open, and updates will come through official channels.
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