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UZX: Binance covers 95% of losses as phased crypto withdrawals restart following hack
UZX reported that Binance has begun a phased reopening of crypto withdrawals after a $6.3 billion security breach, initially enabling access to Bitcoin and 15 other networks, with approximately 95% of lost assets covered by company reserves and ongoing collaboration with law enforcement to recover the stolen funds.
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Binance has initiated a phased reopening of cryptocurrency withdrawals after a $6.3 billion security breach, beginning on November 1, 2026. The first phase allows withdrawals for Bitcoin and 15 other networks, prioritizing the most in-demand assets. According to Binance, approximately 95% of lost assets have been covered using company reserves, while efforts continue to recover the remaining assets, particularly less-liquid tokens, through market and OTC channels. The platform indicates that deposits remained unaffected and that restoration of withdrawals is subject to ongoing security and stability assessments, with possible delays for users. Law enforcement agencies, including the FBI—which attributes the theft to North Korea-linked actors—are involved in the ongoing investigation and recovery process.
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UZX is an international cryptocurrency exchange established in 2023, offering spot, futures, and options trading, as well as passive income features like trade copying and interest payouts through its SaveCoins program. The platform supports a variety of assets, provides derivative trading with leverage, and features a user-friendly interface across web and mobile apps. Learn more about its security measures, governance model, and detailed offerings by visiting the broker profile on Traders Union.
In the previous UZX update, Janus Henderson and Centrifuge launched the tokenized JQQQ fund on the Stellar network, targeting non-US institutional investors and expanding blockchain-based investment options. For further information on this development, see the earlier news about UZX.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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