Binance Resumes Crypto Withdrawals Across 15 Networks After Security Attack, Reports 95% Loss Coverage
Binance has begun gradually restoring cryptocurrency withdrawals across 15 blockchain networks following a security incident that the exchange said resulted in $6.3 billion in losses. The company reported that 95% of the affected assets are now covered using its own resources, while the initial withdrawal rollout includes major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), BNB, XRP and Solana (SOL).
In its fourth security update, Binance said the first phase of the withdrawal restoration would begin gradually between 09:00 and 12:00 Turkish time. Binance founder Changpeng Zhao, widely known as CZ, also confirmed the restart of Bitcoin withdrawals, stating, “Bitcoin withdrawals are active.”
The exchange added that deposits were not affected by the incident and continued to operate normally throughout the disruption.
Which Cryptocurrencies Can Users Withdraw?
The initial restoration covers a range of assets across 15 blockchain networks. On Bitcoin, Ethereum and BNB Smart Chain, withdrawals are being re-enabled for their respective native assets, alongside supported stablecoins. Ethereum withdrawals include ETH, USDT and USDC, while BNB Smart Chain supports BNB, USDT and USDC.
On the Tron network, users can withdraw TRX and USDT. Solana supports SOL, USDT and USDC. Binance is also restoring withdrawals for the native tokens on the XRP, Zcash (ZEC), Dogecoin (DOGE) and Sui (SUI) networks.
Additional supported assets include USDT and GRAM on TON, as well as POL, USDT and USDC on Polygon. The Avalanche C-Chain supports AVAX, USDT and USDC, while Arbitrum supports ETH, USDT, USDC and ARB.
For the Base network, withdrawals are being restored for ETH and USDC. On Optimism, the supported assets in this phase are ETH, USDT and USDC.
Withdrawal Rollout Depends on Demand and Security Checks
Binance said the order in which withdrawals are restored is based on user demand over the previous seven days. Each network will be activated after completing the required security checks, meaning availability may differ between cryptocurrencies and networks during the rollout.
The exchange warned that users could experience delays or temporary transaction failures during the initial hours as traffic increases. Assets and networks that remain unavailable are expected to be added after their security reviews are completed.
Binance Reports 95% Coverage of Attack-Related Losses
Binance's latest update raised its reported recovery rate for the losses associated with the $6.3 billion security incident to 95%, up from the 90% figure disclosed in its October 31 update.
The exchange said BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now backed by 100% reserves. According to Binance, the remaining 5% consists of altcoins with lower market liquidity.
Binance said it is continuing to acquire the remaining assets through market transactions and over-the-counter (OTC) purchases. However, it cautioned that completing the process could take longer because these cryptocurrencies have limited liquidity.
Reserve Coverage Does Not Mean Stolen Funds Were Recovered
Binance's reported 95% recovery figure refers to the exchange covering losses in user accounts with its own reserves. It does not mean that 95% of the stolen cryptocurrencies have been retrieved from the attackers.
The gradual resumption of withdrawals and the reserve coverage figures mark the latest steps in Binance's response to the incident. The exchange said remaining networks and assets would be restored as they pass security checks, with the timing dependent on network readiness and available liquidity.
source: en.bitcoinsistemi
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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