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Binance Reopens Withdrawals After $6.3B Crypto Theft

Binance reopened crypto withdrawals in phases after a 45-hour freeze following a $6.3 billion hack, while wallets linked to the exchange saw heavy outflows.

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Binance Reopens Withdrawals After $6.3B Crypto Theft

Binance began reopening crypto withdrawals on Nov. 1, after a 45-hour freeze following a $6.3 billion theft from its hot wallets. The restart let customers move funds again after what CoinDesk described as a record crypto theft.

In its Nov. 1 recovery update, Binance said it would restore withdrawals in phases after security checks. Deposits stayed open during the suspension, the exchange said.

Which withdrawals came back first?

Binance started the first phase at 06:00 UTC on Nov. 1, according to CoinDesk’s report on the reopening. It included 15 networks, with bitcoin, ether, solana, XRP and major stablecoins among the available assets.

All 15 networks and assets in the first phase were available by 12:36 UTC, CoinDesk reported. Binance said more withdrawal options would return as they passed security and readiness checks.

How much money left after withdrawals resumed?

Wallets linked to Binance recorded $6.1 billion in outflows over the first 24 hours, CoinDesk reported, citing public wallet data tracked by DefiLlama. That figure includes transfers between wallets controlled by Binance, so it does not measure customer withdrawals alone.

Binance said it processed $4.649 billion in withdrawals and received $1.01 billion in deposits during the first nine and a half hours. That left $3.64 billion in net outflows over that period. CoinDesk reported that Binance held $171 billion in assets before the attack, making the net outflow about 2.1% of that amount.

How much of the stolen crypto has Binance replaced?

Binance said it had replenished about 95% of the affected assets by Nov. 1. It said the remaining 5% consisted largely of less liquid tokens that take longer to buy at the scale needed.

The exchange said it would cover the losses and publish a post-incident report after its investigation is complete. Watch for that report and for Binance’s next updates on the remaining assets and withdrawal networks.

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