Binance has resumed cryptocurrency withdrawals in phases after covering 95% of the $6.3 billion stolen from its platform in what Reuters described as the world’s largest digital heist.
The world’s biggest cryptocurrency exchange said the first phase of withdrawals, covering 15 crypto assets including bitcoin, ether, BNB, Solana, XRP and dogecoin, would run between 0600 and 0900 GMT on Sunday. Bitcoin withdrawals resumed shortly after 0600 GMT, with ether, BNB and some USDT and USDC stablecoin withdrawals also restored, according to reports of the exchange’s announcement.
Binance said it had covered $6 billion of the stolen cryptocurrencies by using company money to buy replacement tokens, and had set aside around $6.34 billion of company funds internally to cover the losses. The exchange said it would absorb the financial impact of the theft rather than pass the losses on to users.
The remaining 5%
The remaining 5% of the stolen tokens consists of assets that are less liquid and may take longer to source in the required amounts, Binance posted on X late on Saturday. Those tokens are being bought through public markets and private transactions, and the exchange has said that step can take longer because some tokens have low liquidity and over-the-counter settlement takes time.
Separately, Binance has been working with industry partners to freeze some of the affected assets, with about $3 billion located as of Friday. That frozen pool is separate from the replacement tokens Binance bought itself.
Deposits were not affected by the withdrawal suspension and remained open throughout.
From 80% to 95% in days
The 95% figure is the latest step in a fast-moving sequence, not a contradiction of earlier reports: Binance reported 80% covered on October 30, 90% on October 31, and 95% on November 1. The exchange has also published a proof-of-reserves snapshot showing customer balances backed, with the full cryptographic proof expected by Tuesday, November 3.
One caution applies to all of these figures: they are Binance’s own reports. Security firm CertiK has said it needs more information to verify the claimed $5 billion in replacement holdings, so the recovery totals should be read as the exchange’s account until the full proof of reserves is published.
The hack behind the restart
The theft took place on October 29, when attackers drained Binance’s hot wallets. On Saturday, the FBI said the North Korean state-sponsored unit known as TraderTraitor was responsible for the attack, and reports said the stolen funds were being converted mainly into Ethereum.
Binance has said it funded the gap from its own treasury, drawing in part on its Secure Asset Fund for Users (SAFU) reserve for extreme events and on the pool that insures its derivatives positions, leaving customer accounts untouched. It has committed to restoring the SAFU reserve to about $1 billion after the partial drawdown.
As a market footnote, bitcoin traded near $77,708 on November 1, up 0.8% on the day, while ether sat near $2,266, up 1.2%, according to CoinMarketCap data cited in market coverage — context, not a verdict on whether confidence has returned.
What to watch next
Three dates and tests matter from here: whether the phased restart holds without fresh withdrawal pauses, whether the remaining less-liquid 5% is sourced, and whether the full proof of reserves due November 3 matches the exchange’s claims. Until then, the restart is a resumption of service, not yet a fully verified recovery.
Related Emadan coverage: the earlier planned-resumption announcement, Binance Says 90% of $6.3 Billion Stolen Crypto Replenished, Withdrawals Set to Resume November 1; FBI Blames North Korea’s TraderTraitor for $6 Billion Binance Hack, Flags Hundreds of Wallets; and Binance to Use Half of SAFU Fund to Cover $6.3 Billion Hack Losses, Yi He Says.
Frequently asked questions
Has Binance fully resumed withdrawals?
Not all at once. Withdrawals are resuming in phases, asset by asset and network by network, starting with bitcoin, ether, BNB, Solana, XRP, dogecoin and several stablecoins.
How much of the stolen $6.3 billion has Binance covered?
Binance says 95%, with the remaining 5% in less-liquid tokens still being sourced. The figures are the exchange’s own reports, pending its full proof of reserves due November 3.
Who does the FBI blame for the hack?
The FBI said on Saturday that North Korea’s state-sponsored TraderTraitor unit was responsible for the October 29 attack.
Sources
- Reuters via Express Tribune — Binance to resume withdrawals after recovering bulk of $6 billion in stolen funds (1 Nov 2026)
- Republic World — Binance resumes bitcoin, ether withdrawals after recovering bulk of stolen $6.3 billion funds (1 Nov 2026)
- ForexCrunch — Binance reopens withdrawals Sunday, 90% of losses covered (1 Nov 2026, incl. CertiK caveat and Nov 3 proof-of-reserves date)
- Abijita — Binance withdrawals: 95 percent hack recovery (1 Nov 2026)
- Kursiv — Binance covers $6bn hack losses, targets withdrawals (1 Nov 2026)
