Binance began restoring cryptocurrency withdrawals on Sunday, November 1, following a security breach that resulted in the theft of approximately $6.3 billion in digital assets.
The world’s largest cryptocurrency exchange said it had replenished approximately 95% of the affected assets through company funds and reserves, while continuing to purchase replacement tokens for the remaining balances.
The incident, which occurred on October 29, prompted Binance to temporarily suspend withdrawals while conducting security assessments and reviewing its infrastructure.
Withdrawal Services Gradually Restored
Binance introduced a phased withdrawal process covering major cryptocurrencies, including Bitcoin, Ether, BNB, Solana and XRP.
The company said additional networks and assets would become available as security and operational checks were completed.
Some users continued to experience delays and restrictions, particularly on networks facing elevated transaction volumes.
According to Reuters, customer withdrawals increased sharply after services resumed. By Monday, November 2, net outflows had reached approximately $4.72 billion, equivalent to about 2.8% of assets held on the platform.
Binance said withdrawal activity was beginning to stabilize.
Company Commits to Covering Customer Losses
Binance said it would absorb the financial impact of the breach rather than pass the losses on to customers.
The exchange has used corporate treasury resources and customer-protection reserves to replenish affected cryptocurrency balances.
Approximately 95% of the impacted amount had been covered as of November 1, according to the company’s latest recovery update.
The remaining assets consist primarily of less-liquid cryptocurrencies that may require additional time to acquire.
The company continues working with blockchain industry partners and law enforcement agencies to trace stolen funds.
Investigation and Recovery Efforts Continue
The FBI attributed the attack to North Korea’s TraderTraitor hacking group, according to Reuters.
Binance said its internal investigation remained ongoing and that additional technical findings would be released following the completion of its security review.
The exchange also reported that approximately $3 billion in assets associated with the breach had been frozen through cooperation with industry partners.
