Binance Restores Ethereum and BNB Smart Chain Withdrawals in Phased Restart

Binance reopened withdrawals Sunday for selected Ether (ETH), Tether (USDT) and USD Coin (USDC) transfers on Ethereum and BNB Smart Chain, widening a phased restart after the Oct. 29 security incident. Access remains limited, and Binance warned that congestion could delay or cause some withdrawal attempts to fail.

Bitcoin (BTC) withdrawals opened first. The newly restored routes include ETH, USDT and USDC on Ethereum, plus BNB, USDT and USDC on BNB Smart Chain. Binance’s first phase covers 15 networks, with availability being enabled progressively by asset and network.

Binance said Sunday it had raised coverage of the amount affected to about 95%, from 90%. The remaining 5% consists of less-liquid tokens it is still sourcing. Balances across 10 assets were fully backed: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC.

Binance estimated the incident caused about $6.3 billion in token losses. The 95% figure refers to replacement of affected assets, not recovery of that share of the stolen funds. Binance said replenishment drew on portions of its Secure Asset Fund for Users (SAFU), Futures Insurance Fund and corporate treasury, and that it plans to replenish SAFU to about $1 billion.