# Binance gives first recovery timeline: withdrawals expected to begin resuming within 48 hours; deposits reportedly unaffected
- Latest statement: Binance co-founder He Yi posted a service update on X around noon Beijing time on October 30, saying the team is upgrading its withdrawal services and related address controls, and expects withdrawals to gradually begin resuming within the next 48 hours. Deposit services are unaffected and are still operating normally. Further updates will be posted through official channels.
- The change in messaging is worth noting: Binance had said earlier in the morning that “all deposits and withdrawals are temporarily suspended.” He Yi’s statement differs—it may mean deposits have quietly resumed, or the earlier statement may have covered a broader scope. So far, only He Yi’s personal account has posted an update; the main account has yet to confirm it. Wait for further official confirmation. Also, 48 hours means withdrawals will “begin resuming,” not that they will be fully restored, and no timeline has been provided by asset or network.
- Background: Binance’s preliminary investigation indicates the incident may have originated with an attacker compromising a DevOps engineer’s laptop, then using it to access service containers and submit unauthorized withdrawal transactions. So far, there is no evidence that wallet private keys were leaked. The incident is estimated to have affected around $6.3 billion. Binance has worked with blockchain partners to freeze around $3 billion on-chain, and the platform has pledged to cover all losses through the SAFU Fund and its own funds.
- Market conditions: BTC is trading in the $76,000–$77,000 range, ETH around $2,200, and BNB around $690–$700. The recovery timeline is a positive factor that may ease concerns about a bank run, but the real tests are twofold: whether withdrawals are actually reopened on schedule and in stages, and whether the November 1 proof-of-reserves snapshot checks out.
$BNB $BTC
#币安 #BNB #Withdrawals
My take: Neutral on BNB in the short term. The recovery timeline eases the worst liquidity concerns, but withdrawals have yet to be tested in practice and the reserve snapshot has not been published, so trust has not yet been restored.
Source: He Yi’s service update on X (posted around 12:17 p.m. Beijing time on October 30), cited by PANews and Sina Finance around midday on October 30; Binance’s official security incident update at 10:24 a.m. on October 30 (losses and amount frozen, preliminary investigation findings). For informational purposes only; not investment advice.
Will you wait for withdrawals to resume before taking action, or have you already moved your assets? Tap the tag to view live prices, and join the discussion in the comments.
- Latest statement: Binance co-founder He Yi posted a service update on X around noon Beijing time on October 30, saying the team is upgrading its withdrawal services and related address controls, and expects withdrawals to gradually begin resuming within the next 48 hours. Deposit services are unaffected and are still operating normally. Further updates will be posted through official channels.
- The change in messaging is worth noting: Binance had said earlier in the morning that “all deposits and withdrawals are temporarily suspended.” He Yi’s statement differs—it may mean deposits have quietly resumed, or the earlier statement may have covered a broader scope. So far, only He Yi’s personal account has posted an update; the main account has yet to confirm it. Wait for further official confirmation. Also, 48 hours means withdrawals will “begin resuming,” not that they will be fully restored, and no timeline has been provided by asset or network.
- Background: Binance’s preliminary investigation indicates the incident may have originated with an attacker compromising a DevOps engineer’s laptop, then using it to access service containers and submit unauthorized withdrawal transactions. So far, there is no evidence that wallet private keys were leaked. The incident is estimated to have affected around $6.3 billion. Binance has worked with blockchain partners to freeze around $3 billion on-chain, and the platform has pledged to cover all losses through the SAFU Fund and its own funds.
- Market conditions: BTC is trading in the $76,000–$77,000 range, ETH around $2,200, and BNB around $690–$700. The recovery timeline is a positive factor that may ease concerns about a bank run, but the real tests are twofold: whether withdrawals are actually reopened on schedule and in stages, and whether the November 1 proof-of-reserves snapshot checks out.
$BNB $BTC
#币安 #BNB #Withdrawals
My take: Neutral on BNB in the short term. The recovery timeline eases the worst liquidity concerns, but withdrawals have yet to be tested in practice and the reserve snapshot has not been published, so trust has not yet been restored.
Source: He Yi’s service update on X (posted around 12:17 p.m. Beijing time on October 30), cited by PANews and Sina Finance around midday on October 30; Binance’s official security incident update at 10:24 a.m. on October 30 (losses and amount frozen, preliminary investigation findings). For informational purposes only; not investment advice.
Will you wait for withdrawals to resume before taking action, or have you already moved your assets? Tap the tag to view live prices, and join the discussion in the comments.
