# Binance Says Full Operations Await Security Checks After $6.3 Billion Hack

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/46243
Published: 2026-11-02T08:38:24.000Z
Updated: 2026-11-02T08:38:24.000Z
Section: Technology

> Co-CEO Yi He addressed an online comparison with FTX as the exchange worked to restore withdrawals in phases.

Binance co-CEO Yi He said Monday the exchange will resume full operations only after security checks confirm a safe environment, following a hot-wallet hack Binance estimates at about $6.3 billion.

Her post answered an online comparison with collapsed crypto exchange FTX, though she did not name FTX herself. “Our top priority right now is to ensure the environment is secure,” Yi He wrote, linking customers’ access to their funds to the checks.

The breach began at about 4:05 p.m. ET (20:05 UTC) Oct. 29. Binance paused withdrawals after the intrusion.

In a Nov. 1 update, Binance said it had covered about 95% of the impacted amount with replacement assets, up from 90%. The remaining 5% involves less liquid tokens that take longer to obtain. The coverage figure describes Binance’s effort to back customer balances; it does not mean 95% of the stolen assets have been recovered.

Binance scheduled the first phase of withdrawals for 1–4 a.m. ET (06:00–09:00 UTC) Nov. 1. It plans to restore more asset and network withdrawal routes as they pass security checks and publish a technical account when its investigation is complete.