Binance Restores Crypto Withdrawals After Covering 95% of $6.3 Billion Hack

Binance Begins Restoring Withdrawals After Major Security Incident

Binance has started restoring cryptocurrency withdrawals after a major security incident involving approximately $6.3 billion in digital assets. The exchange says it has replaced around 95% of the affected tokens and is bringing withdrawal services back in phases.

The update marks a significant step in Binance's response to one of the largest reported cryptocurrency thefts. While the exchange is working to restore normal operations, investigators are continuing to trace the stolen assets and examine how the attack took place.

Which Withdrawals Are Available Again?

Binance began restoring withdrawals for Bitcoin, Ethereum, and several other cryptocurrencies on November 1, 2026. The initial phase includes 15 digital assets, among them XRP and Dogecoin, along with selected stablecoins.

The exchange said additional assets would become available in stages. Users should check the withdrawal status of each cryptocurrency through Binance's official platform, as availability may differ by asset and network.

Deposits were not affected by the incident, according to previous updates from the exchange. However, withdrawals were temporarily suspended while Binance reviewed its systems and worked to protect user funds.

Binance Says It Has Covered Most of the Losses

Binance reported that it had replaced approximately $6 billion worth of the stolen cryptocurrency, representing about 95% of the affected assets. The exchange said it had set aside around $6.34 billion to cover the financial impact.

The replacement funds came from several sources, including Binance's Secure Asset Fund for Users (SAFU), its Futures Insurance Fund, and its corporate treasury.

Binance has stated that users will not bear the financial losses resulting from the incident. The company has also committed to replenishing SAFU to approximately $1 billion after using part of the reserve as part of its response.

The remaining portion of the stolen assets consists of less liquid tokens that may take longer to obtain in the required quantities. Binance says it is continuing efforts to source and replace those assets.

Investigators Trace the Stolen Cryptocurrency

The FBI has attributed the attack to TraderTraitor, a North Korean state-sponsored hacking group. The agency said investigators observed stolen assets being converted into Ethereum and warned that further laundering activity could follow.

Binance has been working with blockchain analytics companies, law enforcement agencies, and industry partners to trace and freeze the affected funds. The exchange said approximately $3 billion in assets had been located with the help of these partners.

Finding stolen cryptocurrency does not always mean it can be recovered. Some assets may be moved through multiple wallets or laundering services, while others may be frozen if they are held by platforms or issuers able to restrict transfers.

What Users Should Know

Although withdrawals are returning, users should continue to rely on official Binance announcements for updates. The exchange is restoring services gradually, and not every cryptocurrency or network may be available at the same time.

• Check withdrawal status: Confirm that the specific asset and network are available before initiating a transfer.
• Use official channels: Avoid links shared by unknown accounts claiming to offer recovery assistance.
• Be alert to scams: Fraudsters may impersonate Binance support and ask users for passwords, recovery phrases, or verification codes.
• Verify destination details: Always confirm the recipient address and blockchain network before sending cryptocurrency.

What Happens Next?

Binance's immediate priority is to restore withdrawal services while continuing to investigate the incident and replace the remaining affected assets.

The event has also renewed discussions about exchange security, hot-wallet protections, and the importance of strong transaction approval systems. Even large platforms with significant security resources can face complex attacks, making transparency and reliable recovery plans essential.

For users, the latest update is an important development: withdrawals are returning and Binance says it is covering the losses. However, the investigation is ongoing, and further updates may clarify the full scope of the attack and the measures introduced to prevent similar incidents.

This article is for informational purposes only and does not constitute financial advice. Details may change as Binance and law enforcement release further updates.