ETH and BSC withdrawals have resumed, but it’s not a “full reopening” yet: check the network first, then talk about rebuilding trust

Tonight Beijing time, a more specific update than “the first-phase withdrawal window has ended” appeared on Binance Square: an official Binance update confirmed that USDC, USDT, and ETH withdrawals have resumed on the Ethereum network, while USDC, USDT, and BNB withdrawals have resumed on BNB Smart Chain. Other assets and networks will be restored in stages once security checks are complete.

This means recovery has moved beyond the time-window phase and into the “network–asset combination” phase. For ETH, readers can directly check the market status of [ETH / USDT Spot](https://www.binance.com/en/trade/ETH_USDT) and [ETH / USDT Perpetual](https://www.binance.com/en/futures/ETHUSDT); however, being able to trade ETH does not mean that every withdrawal combination on the ETH network has been restored. The same applies to BSC: normal trading in BNB does not mean that all BSC assets can be withdrawn immediately.

## What happened?

Binance’s official Chinese-language update states that USDC, USDT, and ETH on the Ethereum network have been restored, as have USDC, USDT, and BNB on BNB Smart Chain; more networks and assets will be reopened after security checks are completed. The official Recovery Update #4 also notes that Phase 1 is a gradual recovery, and delays may occur initially due to traffic. The withdrawal page and Network Status should be treated as the source of truth for final availability.

There is an easily overlooked difference in how these updates are framed: Binance previously said that Phase 1 would cover multiple networks and specified assets, and that approximately 95% of affected assets had been replenished. This indicates progress in restoring reserves and services, but it does not mean that all low-liquidity assets or all networks have been restored. Describing the “parts that have been restored” as a “full recovery” would erase the most important caveat.

## Why are ETH and BSC important indicators?

They cover both native assets and stablecoin channels, making them useful early indicators of whether recovery has moved from an announcement to actual availability. Three things need to be checked: whether the withdrawal page shows the target asset as available; whether the selected network matches the address; and whether the withdrawal is processed and confirmed on-chain within a reasonable time. Seeing the button appear does not mean the funds have arrived.

The market snapshot also provides no evidence that the recovery triggered one-way buying. At around 21:12 Beijing time, ETH spot was approximately 2265.11 USDT, up 0.780% over 24 hours, with quote trading volume of approximately 174.41 million USDT; [ETH / USDT perpetual](https://www.binance.com/en/futures/ETHUSDT) was around 2263.97, with open interest of approximately 2.369 million ETH and a latest funding rate of approximately -0.00001650. Spot and perpetual prices were close, but a funding rate near zero is not enough on its own to prove that longs are crowded or that new leverage has entered the market.

BNB spot was approximately 714.29 USDT, up 1.240% over 24 hours, with quote trading volume of approximately 65.2794 million USDT; both [BNB / USDT spot](https://www.binance.com/en/trade/BNB_USDT) and [BNB / USDT perpetual](https://www.binance.com/en/futures/BNBUSDT) were verified as available for trading. The perpetual mark price was around 714.59, open interest was approximately 576,200 BNB, and the funding rate was approximately +0.00003276. The rise only describes the price at that time; it cannot be attributed to the resumption of withdrawals, and trading availability does not mean that all withdrawal routes are fully operational.

## My assessment and what would invalidate it

I am more inclined to view this as a “verifiable partial recovery” rather than evidence that the trust issue is over. Restoring the specified ETH and BSC assets first makes it possible to observe whether the infrastructure can handle real withdrawal traffic. But the real test is whether more networks are reopened as announced, failure rates and processing delays decline, users can complete on-chain confirmations, and a complete post-incident review is eventually published.

If Binance later confirms that more networks and assets have been restored reliably, and the withdrawal page matches on-chain records, my assessment would shift to “recovery has become business as usual.” If delays recur, the same network is paused again, or the scope of recovery remains limited to a few highly liquid assets for an extended period, then the 95% replenishment figure still cannot substitute for verification that the service is available.

Sources:

1. Official Binance (Security Incident | Recovery Update #4: Withdrawals Resume in Phases): https://www.binance.com/en/support/announcement/security-incident-recovery-update-4-withdrawals-resume-in-phases-2026-11-01-73911fb819b240f88b88256bdd318eda

2. Official Binance Square Chinese-language update (Latest update on withdrawal services): https://www.binance.com/en/square/post/383530294196694

3. Binance Square trends page (observed at 21:12 Beijing time on November 1, 2026): https://www.binance.com/en/square/trends

Risk disclaimer: This article reviews the official incident updates and publicly available market data; it is not investment advice. Withdrawal availability, processing times, on-chain confirmations, prices, trading volumes, open interest, and funding rates can all change. Spot and USDⓈ-M perpetuals have different trading mechanics, leverage, funding rates, slippage, and liquidation risks. The chart cover is a locally sourced ETHUSDT four-hour chart, provided for observing price movements only; the official long-form article interface only confirms support for a single cover image, so it should not be claimed that the chart is embedded in the article. The market data snapshot is from 21:12–21:15 Beijing time on November 1, 2026.

#BinanceRestoresWithdrawalsForEthereumNetwork&BNBSmartChain #WithdrawalsResumed

$ETH $BNB