#WithdrawalsBack: 15 networks live
🚨🚨🚨 Binance Recovery Update: Phase 1 Withdrawals Restored Across 15 Networks
Following the October 29 security incident involving approximately $6.3 billion in hot-wallet losses, Binance has completed the first phase of withdrawal restoration. Services resumed in controlled stages starting November 1, 2026 (06:00–09:00 UTC window), prioritized strictly by recent user demand data.
👉 Restored Networks (Phase 1 – Partial Assets Only)
Bitcoin (BTC), Ethereum (ETH + USDT/USDC), BNB Smart Chain (BNB + USDT/USDC), Tron (TRX + USDT), Solana (SOL + USDT/USDC), XRP Ledger (XRP), Zcash (ZEC), Dogecoin (DOGE), TON (USDT/GRAM), Polygon (POL + USDT/USDC), Avalanche C-Chain (AVAX + USDT/USDC), Arbitrum (ETH/USDT/USDC/ARB), Base (ETH/USDC), Optimism (ETH/USDT/USDC), Sui (SUI).
Bitcoin was first (highest demand). Full asset coverage on these networks is not yet complete; additional tokens and remaining networks continue under security review.
Key Statistical Data
- Withdrawals processed (approx. 06:00–15:30 UTC Nov 1): $4.649 billion
- Deposits processed: $1.01 billion
- Net outflow: ~$3.64 billion (2.1% of $171 billion pre-incident PoR assets as of Oct 28)
- Peak withdrawal interval: $733 million (08:00 UTC half-hour)
- Asset replenishment: 95% of impacted amount covered from corporate reserves, SAFU, and futures insurance fund. Top assets (BTC, ETH, USDT, BNB, SOL, USDC, XRP, ZEC and others) now fully backed.
👉 Market Impact Analysis
Bitcoin held steady near $77,800–$78,100 with no cascading liquidation cascade or solvency-driven sell-off. Total crypto market cap remained near $2.61 trillion. Spot Bitcoin ETF flows showed modest pressure earlier in the week, but the reopening itself produced only temporary volume spikes that later stabilized. Outflows concentrated in the first hours then declined, consistent with normal post-pause redemption rather than a bank-run dynamic. The 2.1% net outflow relative to AUM is the largest single-day test since FTX 2022, yet price resilience indicates markets priced the event as an operational incident already absorbed by Binance’s balance sheet.
🤯 Sentiment Reflection
Community and on-chain reaction shows cautious confidence rather than panic. Early whale movements (~$2 billion in the first three hours) reflected precautionary transfers, but subsequent volume normalization and continued deposits signal retained trust. Public commentary emphasizes Binance’s rapid self-funding of losses and transparent phased approach. Founder statements noting the majority of users electing to remain align with observed deposit activity. Residual caution centers on the remaining 5% less-liquid assets and the need for full cryptographic PoR verification (targeted shortly). Overall tone has shifted from acute concern to measured monitoring of Phase 2 progress.
Further networks and assets will open progressively after completed security and readiness checks. Users should verify current availability on the withdrawal page or network status portal. Temporary processing delays remain possible during high volume.
#BinanceProcesses$4.65BWithdrawals #SouthKoreanLawmakerProposesReviewOfAllListedDigitalAssets #BrazilVirtualAssetLicenseDeadlineDrawsAbout40Firms #BTCPayServerUrgesOperatorsToShutDownInstances