- Binance is reopening withdrawals for 56 additional crypto assets across Ethereum and Solana as part of its sixth recovery phase following the $6.3 billion hack.
- The latest update covers nine blockchain networks, including BNB Smart Chain, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base.
Binance is reopening withdrawals for additional cryptocurrencies across Ethereum, Solana and several other blockchain networks as the exchange continues restoring services following its October 29 security breach, which resulted in losses estimated at $6.3 billion.
In its sixth recovery update, published on November 3, the exchange announced that withdrawals for the newly listed assets would begin reopening at 04:00 UTC. This latest phase encompasses nine networks: Ethereum (ETH), Solana (SOL), BNB Smart Chain (BSC), XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base.
The Ethereum withdrawal list features ENA, USDE, PENDLE, WLD, SHIB, ONDO, LINK, ETHFI, JASMY, PUNDIX alongside several other tokens. For Solana, users will find assets such as PUMP, RENDER, RAY, TRUMP, PENGU, JUP, PYTH, BONK and WIF included in the reopening plan.
Binance also detailed additional assets on BNB Smart Chain, which include Bitcoin (BTC), Ethereum, XRP, Cardano (ADA), Dogecoin (DOGE) and Solana. Selected assets on the remaining supported networks are also part of this rollout.
Withdrawals to Resume in Phases
Binance noted that the listed assets will not become available all at once. Instead, the platform is restoring withdrawals progressively after finishing security and readiness checks for each individual network and asset.
Additionally, the exchange stated that deposits remain operational and are unaffected by the current withdrawal restrictions. Customers might encounter delays or extended processing times during this rollout due to higher transaction traffic. Binance has recommended that users check individual withdrawal pages prior to transferring funds.
This action follows Binance’s initial withdrawal reopening on November 1, when select networks and assets were first made available again.
Binance has also reaffirmed that it will absorb the financial burden of the stolen funds instead of passing those losses on to its users. The exchange confirmed it will keep restoring services and incorporating assets as they pass all necessary security checks.
Frequently Asked Questions
When did the Binance security breach happen and what was the estimated loss?
The security breach occurred on October 29, resulting in estimated losses of $6.3 billion.
Are deposits currently working on Binance?
Yes, deposits remain open and are completely unaffected by the ongoing withdrawal restrictions.
Will users have to pay for the stolen funds?
No, Binance has reiterated that it will absorb the financial impact of the stolen funds rather than passing the losses on to users.
Why might my withdrawal take longer than usual right now?
Users may experience delays or longer processing times during the rollout due to increased transaction traffic.
