Binance Resumes Phase-1 Withdrawals, Covers 95% Of Stolen $6.3B With Company Funds

• Binance resumed crypto withdrawals in phases on November 1, prioritising Bitcoin & 15 blockchain networks
• The exchange has covered 95% of stolen assets using company funds & its Secure Asset Fund for Users
• Approximately $3 billion in stolen stablecoins was frozen by issuers Circle & Tether
• Binance confirms all user balances are fully backed 100% & losses will not be passed on to users

The world’s largest crypto exchange by trading volume Binance has resumed withdrawals on Sunday, November 1, 2026, following the biggest crypto heist in history. During phase one, Bitcoin and assets from 15 other blockchain networks are available to withdraw between 06:00 and 09:00 UTC.

https://t.co/pBJaht1UGV

— Binance (@binance) November 1, 2026

Ether, USDT, USDC, BNB, and XRP were included in this initial phase, with the most-requested networks prioritised first. Additional networks will be unlocked as they pass individual security and stability checks.

95% Covered By Company Funds

The exchange said it has now replaced approximately 95% of stolen assets, up from 90% a day earlier, drawing on company reserves and its Secure Asset Fund for Users (SAFU).

Binance began restoring withdrawals in phases at 06:00 UTC on November 1, 2026. By 12:36 UTC, withdrawals had resumed for all 15 networks and assets in the initial phase. After an initial spike, withdrawal volumes have declined and are stabilising as expected, while deposit volumes have remained substantial.

Between 06:00 and 15:30 UTC on November 1, we processed $4.649 billion in withdrawals and $1.01 billion in deposits, resulting in a net outflow of approximately $3.64 billion. This represents 2.1% of our $171 billion in total assets under management (AUM), based on the latest available Proof of Reserves (PoR) data as of October 28, 2026. A new PoR snapshot was taken at 00:00 UTC on October 31, and zero-knowledge proof (ZKP) computation began. The updated report is expected to be available on our PoR website tomorrow.

Our team continues testing rigorously the remaining networks and assets. We know how important safe and reliable access to your funds is and will share details of the next phase as soon as we can. Rest assured that market conditions are stable.

Thank you for your patience and continued support.

— Binance (@binance) November 1, 2026

The remaining 5% consists of less-liquid tokens outside the top ten cryptocurrency rankings, which take longer to source on the open market.

Scale Of The $6.3 Billion Attack

Blockchain analytics firm TRM Labs reported losses across multiple assets: 18,270 BTC ($1.47 billion), 200,630 ETH, 1.875 billion USDT and 823 million USDC on Ethereum, 233.46 million XRP, and 970,500 SOL. In total, roughly $3 billion of the stolen funds, primarily USDT and USDC, was frozen by stablecoin issuers Circle and Tether. Bitcoin and Ether cannot be frozen in the same way.

Users Protected

Binance stated that it “will bear the financial impact of the stolen funds” and confirmed losses “will not be passed on to users.” The exchange confirmed all listed balances, including BTC, ETH, USDT, and BNB, are “fully backed 100%,” with a full proof-of-reserves report forthcoming.

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