Binance Restores Withdrawals on 15 Networks After Security Incident

Binance restored withdrawals on 15 networks after a security incident, giving customers access to the first group of assets while the exchange tests the remaining networks before expanding service.

The phased reopening began at 1 a.m. ET (06:00 UTC) on Nov. 1. By 7:36 a.m. ET (12:36 UTC), withdrawals were available on the first 15 networks and for their associated assets.

From 1 a.m. to 10:30 a.m. ET (15:30 UTC), Binance processed $4.649 billion in withdrawals and $1.01 billion in deposits, producing net outflows of about $3.64 billion. Binance said withdrawal volume rose early, then eased and stabilized, while deposits remained substantial.

Binance co-CEO and co-founder 何一 said a secure operating environment remained the priority as the exchange worked toward broader access and normal operations. She alleged that some exchanges, peer-to-peer platforms and commercial banks had taken customer funds and disappeared without warning. She said opaque records and sudden shutdowns left customers unable to confirm balances, trace funds or withdraw.

Before the phased reopening, 何一 had expected withdrawals to return within 48 hours. Binance is continuing to test the remaining networks and assets and said it would announce details of later phases separately.