Binance Reopens More Withdrawals After $6.3B Hack, but Hyperliquid’s HYPE Is Still Missing
Binance has resumed withdrawals for 69 tokens across 6 networks, excluding Hyperliquid's HYPE token. The exchange is reopening withdrawals in phases based on demand and security checks. Binance has recovered 98% of the $6.3B stolen in the October 29 hack, using its SAFU fund and market purchases. HYPE holders are seeking clarification on its absence from the withdrawal list.
How this was made
The 30-second read
Why it matters
The continued freeze may keep HYPE under pressure, while the broader crypto market watches Binance's recovery steps.
Market read
The article provides fresh details on Binance's phased withdrawal schedule and the specific omission of HYPE, affecting token liquidity and price.
What to watch
Potential OTC purchases of HYPE by Binance could mitigate price impact, but not disclosed.
Background
Binance is gradually reopening withdrawals after a $6.3B hack; HYPE remains excluded despite being a high‑volume token.
Ticker impact
HYPE, Hyperliquid's native token, is still absent from Binance's latest withdrawal reopening list after the $6.3B hack.
downward pressure as traders cannot move funds
Liquidity constraints and uncertainty around the token's status typically depress price until withdrawals resume.
Market effects
Highlights ongoing risk for crypto exchanges after large hacks, may affect confidence in other spot markets.
Primarily impacts traders on Binance globally, with heightened attention in Asia where Binance has large user base.
Reinforces broader concerns about exchange security, could influence crypto market sentiment worldwide.
Counterpoint
If Binance resolves the issue quickly, HYPE could rally on pent-up demand once withdrawals resume.
Key entities
- ExchangeBinance
World's largest crypto exchange by volume, managing the withdrawal reopening.
- ProtocolHyperliquid
Layer‑1 blockchain operating a perpetual futures DEX; issuer of HYPE token.
