Binance begins second withdrawal phase after record crypto hack
Binance is starting a second phase of cryptocurrency withdrawals on Tuesday as it continues recovery efforts after last week’s $6.3 billion hack. The expanded reopening covers additional blockchain networks from 04:00 UTC, while deposits remain available and the exchange says asset access is being restored progressively.
Highlights
- Binance resumes withdrawals for more assets from 04:00 UTC on Tuesday, expanding to networks including Binance Smart Chain, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron, and Base.
- Withdrawals are reopening gradually after security and readiness checks, with prioritization based on user demand following November 1’s initial phase.
- Deposits remain available as Binance’s phased approach seeks to balance user access with enhanced security controls after suffering one of the largest crypto hacks.
Withdrawal restart expands across major networks
As reported by Cointelegraph, citing Binance in its latest recovery notice, withdrawals for additional assets are scheduled to resume progressively from 04:00 UTC on Tuesday. The exchange says the second phase follows an initial reopening on Nov. 1 and, like the first stage, is proceeding only after security and readiness checks are completed.Binance says it is prioritizing tokens based on user demand over the past week. Networks included in the second phase are Binance Smart Chain, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base.
Security checks shape user access and market response
Deposits remain available as Binance continues to restore withdrawal functions in stages across its platform. The phased approach indicates the exchange is trying to balance customer access with additional controls after one of the largest hacks to hit the crypto sector.The latest move comes as traders monitor liquidity and user flows following the attack. Binance’s decision to reopen withdrawals gradually across high-usage networks is likely to remain a key signal for confidence in crypto exchange operations and recovery planning.
In our earlier article on CTOS Digital’s cybersecurity incident and its estimated financial impact, we noted that the breach was expected to cut net profit by RM12 million and revenue by RM16 million if some services stayed disrupted into late October. We also highlighted that even after services begin to resume, the company could face a longer period of pressure from higher security costs and the challenge of restoring customer confidence.
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