Binance to restart crypto withdrawals on Nov. 1 after $6.3 bn breach
Binance announced that it will reopen withdrawal services for a set of 15 blockchains, including the leading assets Bitcoin, Ethereum and XRP, during a three‑hour window on 1 Nov. 2026. The move follows a security incident that caused roughly $6.3 billion in losses, of which about 95 % has been recovered. Binance said the losses will be covered using its SAFU reserve, futures insurance fund and corporate treasury, and it will publish an updated proof‑of‑reserves by 3 Nov. 2026.
Why it matters
The resumption of withdrawals allows customers to move their holdings again, reducing liquidity pressure on the affected markets. Binance’s commitment to cover the shortfall and to provide a new proof‑of‑reserves aims to restore confidence in the exchange’s solvency.
Key facts
- 1A security breach resulted in an estimated $6.3 billion loss for Binance. tokenpost.com
- 2Binance has recovered roughly 95 % of the assets impacted by the breach. hokanews.com
- 3Withdrawals will be re‑enabled for 15 blockchain networks between 06:00 and 09:00 UTC on 1 Nov. 2026. hokanews.com
- 4The reopening will initially cover Bitcoin, Ethereum, XRP Ledger and several other major chains. hokanews.com
- 5Binance will fund the recovery using the Secure Asset Fund for Users (SAFU), its futures insurance fund and corporate treasury. hokanews.com
- 6An updated proof‑of‑reserves snapshot is expected to be released by 3 Nov. 2026. hokanews.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.