Binance Reopens Withdrawals: 95% of $6.3 Billion Hack Now Covered

Binance reopened withdrawals on Sunday, November 1, starting with Bitcoin, after covering 95% of the $6.3 billion stolen in the October 29 hack. Bitcoin withdrawals resumed shortly after 06:00 GMT, and ether, BNB and some USDT and USDC stablecoin withdrawals followed in the same first phase. The exchange says about $6 billion of replacement tokens have now been bought with company money.

What happened on Sunday morning?

Binance began a phased reopening between 06:00 and 09:00 UTC on Sunday. Bitcoin was the first network to go live, confirmed by founder Changpeng Zhao in a short post on X: “BTC withdrawal is live.” Later on Sunday, Binance restored USDT, USDC and ETH withdrawals on the Ethereum network, and USDT, USDC and BNB withdrawals on BNB Smart Chain.

The first phase was planned to cover selected assets across 15 networks, including Ethereum, BNB Smart Chain, Tron, Solana, XRP Ledger, Zcash, Dogecoin, Polygon, Avalanche C-Chain, Arbitrum, Base, Optimism, TON and Sui. Not every route opened at once — each combination still has to pass security checks, and Binance warned heavy traffic could delay withdrawals.

How much of the stolen money has been replaced?

95%, up from 90% on Saturday and 80% earlier in the week. Co-CEO Richard Teng confirmed the new figure on November 1, saying Binance would absorb the financial impact of the breach. The exchange has set aside about $6.34 billion of company funds to cover the losses.

The money is coming from three company pools: the $1 billion Secure Asset Fund for Users (SAFU), the Futures Insurance Fund, and Binance’s corporate treasury. Co-CEO Yi He said about half of SAFU would be used, and Binance has committed to restoring SAFU to about $1 billion afterwards. The remaining roughly 5% of stolen tokens are less liquid assets that take longer to source in the required amounts, according to the exchange.

Binance says ten balances are now fully backed: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC. Separately, about $3 billion of the stolen assets had been located and frozen with industry partners as of Friday — a different pool from the replacement tokens Binance is buying.

Why is this blowing up?

This is, by the FBI’s account, possibly the biggest financial robbery ever — about $6.3 billion taken in a theft that largely unfolded in around 20 minutes late on Thursday, October 29. On Saturday the FBI said the North Korean state-sponsored unit known as TraderTraitor was responsible, and that its members were observed converting stolen assets into ether, with further laundering expected.

President Donald Trump struck a more cautious note on Saturday, saying the United States was still not certain North Korea was involved: “We don’t know if it’s North Korea — but if it is, we’ll talk to North Korea about it.” North Korea has long denied using state-linked cyber units for theft, and its missions did not respond to requests for comment in Reuters reporting.

For crypto markets, Sunday was the real test: claims that losses are covered matter less than whether customers can actually take their money out, which is why every network coming back online is being tracked so closely.

Key facts

• Hack: About $6.3 billion stolen on October 29; withdrawals were suspended exchange-wide.
• Reopening: Bitcoin first, shortly after 06:00 GMT on Sunday, November 1, followed by ether, BNB and some stablecoin routes.
• Coverage: 95% replenished, about $6 billion in replacement tokens bought with company funds; $6.34 billion set aside in total.
• Attribution: The FBI blames North Korea’s TraderTraitor unit; President Trump says U.S. certainty is not yet established.
• Proof: A Proof of Reserves snapshot was taken at 00:00 UTC on October 31; full cryptographic verification is expected by November 3.

What’s next?

There is no fixed date yet for the second withdrawal phase. Yi He said the remaining wallets are undergoing repeated security audits, and Binance will prioritise further currencies by market capitalisation, funds held and how many customers use each asset. Deposits have stayed operational throughout.

Two dates matter most. Full Proof of Reserves verification, due by Tuesday, November 3, will let customers check their backing independently. Binance has also pledged a detailed incident report — early findings pointed to a compromised employee laptop. Until both land, Sunday’s reopening is strong progress, not the end of the story. This is news coverage only, not financial advice.

Sources

Reuters via KTWB — Binance resumes bitcoin, ether withdrawals after covering bulk of stolen $6.3 billion
crypto.news — Binance reopens Bitcoin withdrawals after $6.3B hack, says 95% restored
crypto.news — Binance reopens USDT, USDC, ETH, BNB withdrawals
CoinCentral — Binance reopens Bitcoin withdrawals, says 95% of stolen crypto replaced

FAQ

Can Binance customers withdraw their crypto now?

Some can. Bitcoin withdrawals reopened on Sunday, November 1, followed by ether, BNB and some USDT and USDC routes on Ethereum and BNB Smart Chain, with other assets reopening in phases after security checks.

How much of the $6.3 billion hack has Binance covered?

About 95%, or roughly $6 billion, as of November 1 — up from 90% on October 31. Binance says the remaining 5% is in less liquid tokens that take longer to buy.

Who does the FBI say carried out the Binance hack?

The FBI attributes the attack to TraderTraitor, a North Korean state-sponsored hacking unit. President Trump said on Saturday that the U.S. was not yet certain North Korea was involved.

When will Binance withdrawals fully reopen?

There is no fixed date for the second phase yet. Binance is reopening each asset and network only after repeated security audits, and full Proof of Reserves verification is expected by November 3.