Binance is letting users withdraw again. A few days after the October 29 breach that led it to pause withdrawals, the exchange says it began restoring them in phases at 06:00 UTC on November 1. By 12:36 UTC, withdrawals were back on all 15 networks and assets in the first phase.
What Binance says happened
- Phase one: Withdrawals resumed on all 15 networks and assets in the initial phase.
- The pattern: After an initial spike, withdrawal volumes declined and are settling, while deposit volumes have stayed substantial.
- The flows: Between 06:00 and 15:30 UTC, Binance processed $4.649 billion in withdrawals and $1.01 billion in deposits.
- Net outflow: About $3.64 billion, which Binance says is 2.1% of its $171 billion in assets under management.
- What’s next: The team is still testing the remaining networks and assets and says it will share the next phase soon. It says market conditions are stable.
How to read the numbers
$3.64 billion sounds huge, and in dollars it is. The more useful figure is the share: 2.1% of what Binance says it holds. Binance describes the outflow as an initial spike that is now calming down. Both numbers are the exchange’s own, so treat them as claims until independent data confirms them.
Proof of reserves
The 2.1% figure uses Binance’s latest published proof-of-reserves data, which is from October 28. It took a new snapshot at 00:00 UTC on October 31 and has started the zero-knowledge proof computation. The updated report is due on its proof-of-reserves website on November 2.
What to watch next
- Details of the next phase, and which networks and assets come back
- The updated proof-of-reserves report
- The technical report on the breach that Binance has promised
- Whether withdrawal volumes keep falling
For the background, read our earlier story: Binance hack: $6.3B affected, BNB, BTC and ETH fall.
Note: all figures come from Binance’s own update on X (@binance) on November 1, 2026, and we have not verified them independently. This article is for information only and is not financial advice. Never share your seed phrase and use only official Binance links.
Source: Binance (@binance on X).