Bitcoin withdrawal services on Binance resumed operations on Sunday, Nov. 1, 2026. The reopening marks the first blockchain network restored following the $6.3 billion hack on Oct. 29. Binance founder Changpeng Zhao confirmed the news on his personal X account with a brief statement: “BTC withdrawal is live.”
The initial withdrawal window ran between 06:00 and 09:00 UTC on Sunday. This first phase covers selected cryptocurrencies across 15 blockchain networks, namely Bitcoin, Ethereum, BNB Smart Chain, Tron, Solana, XRP Ledger, Zcash, Dogecoin, Polygon, Avalanche C-Chain, Arbitrum, Base, Optimism, TON, and Sui.
Several networks supported multi-asset withdrawals simultaneously during this initial wave. Ethereum processed ETH, USDT, and USDC withdrawals, while the Arbitrum network facilitated ETH, USDT, USDC, and ARB withdrawals. The exchange scheduled the network rollout order based on user withdrawal demand volume over the preceding week.
How Reserve Funds Were Covered
Binance’s asset recovery rate reportedly rose to 95% as of Nov. 1, 2026, after previously standing at 80% and 90% on Oct. 31. Binance Co-CEO Richard Teng emphasized that the exchange is covering all customer balance losses with no cost to users. Recovery funds were drawn from the exchange’s internal cash, surplus reserves from the Futures Insurance Fund, and the Secure Asset Fund for Users (SAFU) protection wallet.
The movement of the relief funds was confirmed directly on the public ledger. Data from on-chain tracking firm Lookonchain showed Binance’s SAFU wallet transferred 7,500 BTC worth approximately $580.88 million to a new address to provide liquidity for customer withdrawals. Based on a Proof of Reserves snapshot as of Oct. 31 at 00:00 UTC, ten major assets - including BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC - were declared 100% fully backed. Full zero-knowledge cryptographic proof is scheduled for release on Tuesday, Nov. 3, 2026.
Queue for the Remaining Five Percent of Assets
A 5% reserve shortfall currently remains to be covered. That portion consists of tokens outside the ten major assets that have lower market liquidity, requiring the exchange more time to execute phased repurchases. Binance co-founder Yi He explained that wallets not yet opened are still undergoing repeated security audits and protection system testing before withdrawal routes are activated gradually.
For crypto holders on Binance, the restoration of Bitcoin and major coin channels provides certainty for balance withdrawals, although holders of lower-liquidity secondary tokens must still wait for the completion of security audits and open-market asset repurchases.
Dilansir dari crypto.news.
Baca juga: How to Read Candlestick Charts for Beginners
Sebelumnya: Binance Recovers 90% of Stolen $6.3B Assets - Withdrawals Targeted to Open Sunday
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
