Binance restored withdrawals for ETH, USDT and USDC on the Ethereum network and for BNB, USDT and USDC on BNB Smart Chain on Nov 1, expanding its phased restart after reopening Bitcoin withdrawals on the Bitcoin network earlier in the day. All withdrawals are now processed from newly generated wallet addresses added to the exchange’s Proof of Reserves list as it recovers from an Oct 29 security breach that drained an estimated $6.3 billion across 10 blockchains.
The initial reopening window from 06:00 to 09:00 UTC covers 15 currencies across 15 networks, including Solana, while remaining tokens stay offline for security checks. Prior to the restart, Binance replenished 95% of the stolen assets—covering $6 billion of the loss—after allocating $6.34 billion from its corporate treasury, futures insurance fund and Secure Asset Fund for Users. Ten major tokens, including BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC, have 100% reserve backing as the company buys the remaining 5% in less liquid altcoins, with a full zero-knowledge Proof of Reserves verification due Nov 3.