Binance Targets Nov. 1 Withdrawal Restart, Plans Reserve Report

Binance co-CEO Richard Teng said the exchange is working to restore customer withdrawals before the Nov. 1 deadline and plans to publish a reserve report on Nov. 2.

Teng said withdrawals will return only after the service clears strict security testing. Binance is rebuilding its withdrawal service and reviewing endpoint devices, cloud services, key management and transaction-signing systems. He described the work as a comprehensive security review of Binance's systems.

Deposits are operating normally, but withdrawals remain suspended. Teng said Binance hopes to publish preliminary reserve figures before its complete proof-of-reserves (PoR) report, scheduled for Monday, Nov. 2.

Binance has set two milestones for the coming days: its target to resume withdrawals by the Sunday, Nov. 1, deadline and publication of a complete reserve report Monday, Nov. 2. Because security testing must be completed before reopening, the stated target still does not confirm withdrawals will be available by that deadline.