Binance opens crypto withdrawals in phases starting with bitcoin following $6.3 billion hack
Binance has begun a phased restoration of crypto withdrawals following a record-breaking $6.3 billion hack. The exchange is prioritizing security checks for each blockchain before fully resuming services to ensure user funds are protected.
Why it matters
This event highlights the systemic risks in the cryptocurrency ecosystem and the challenges exchanges face in securing massive liquidity pools.
The exchange began the phased restart on Sunday, with the first withdrawal window running from 06:00 to 09:00 UTC.
“Binance is preparing to resume phase one of withdrawals on 2026-11-01 between 06:00 and 09:00 (UTC). Restoring access to user funds is a priority, and we are taking a controlled approach to do so safely. We will continue to monitor closely as services return in phases,” a Binance spokesperson said in a statement shared with CoinDesk.
Alongside bitcoin, Binance reopened withdrawals for assets on 15 other blockchains during the first phase. The exchange said the order reflected recent user demand, with the most requested networks prioritized. Additional phases will follow, but only after each blockchain clears further security and stability checks.
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