Key takeaways

  • Binance restores withdrawals across 87 additional blockchain networks
  • Exchange targets remaining withdrawal services by next week
  • More than $6.34 billion in affected assets replaced

Binance has reopened cryptocurrency withdrawals across 87 blockchain networks following its $6.3 billion security breach, marking another major recovery milestone as the exchange works to restore full customer access after nearly two weeks of disruption.

According to Binance's November 14 announcement, the latest reopening covers networks including Aptos, Hyperliquid, Cardano, Avalanche, Stellar, Near Protocol, Litecoin and Filecoin.

The exchange aims to restore withdrawals for all remaining networks and assets by the end of next week, although it warned that some transactions may experience delays during the rollout.

The update follows earlier customer withdrawals totaling $4.72 billion, raising the stakes for Binance as it attempts to rebuild confidence.

Binance Restores 87 Networks as Recovery Nears Final Stage

The latest phase significantly expands withdrawal access beyond the initial network restoration that began November 1.

Binance initially prioritized major assets including Bitcoin, Ethereum, BNB, Solana and XRP before gradually extending services to smaller networks and less-liquid cryptocurrencies.

The new list includes HYPE, ADA, AVAX, XLM, NEAR, ATOM, TIA, ICP, FIL, APT and dozens of others.

However, reopening a network does not necessarily mean every associated asset and withdrawal route is fully operational.

Customers must verify availability for their selected cryptocurrency and network before initiating transactions.

The recovery follows an earlier XRP withdrawal restoration, which returned access to additional XRP Ledger assets during the phased reopening.

Binance Replaces $6.34B in Stolen Crypto With Company Funds

Operational recovery comes alongside Binance's announcement that it has completed replacing the assets affected by the October 29 attack.

On November 12, Binance confirmed it had committed more than $6.34 billion from company-controlled funding sources, including its Secure Asset Fund for Users, futures insurance resources and corporate treasury.

The company also published a new proof-of-reserves snapshot covering 198 cryptocurrencies, with zero-knowledge verification intended to demonstrate at least 1:1 backing for customer balances.

That follows earlier reserve verification efforts, when Binance confirmed full backing for ten major cryptocurrencies.

Nevertheless, replacing affected customer assets is not equivalent to recovering stolen funds from attackers.

The breach initially involved approximately $296 million in stolen XRP before expanding into a wider multichain attack.

Can Binance Restore Confidence After the Hack?

Despite the latest progress, restoring withdrawal functionality does not automatically resolve concerns about exchange security.

Binance experienced significant customer outflows immediately after withdrawals resumed, highlighting the difference between restoring account balances and rebuilding customer trust.

The incident also demonstrated how difficult stolen cryptocurrency can be to contain. Investigators subsequently tracked approximately $101 million in XRP moving between addresses linked to the breach.

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Ethan Mercer

Ethan Mercer is a financial journalist covering crypto, stocks, and the global economy. He studied Economics and Finance and later moved into market reporting, with a particular interest in Bitcoin, equities, monetary policy, and investor sentiment. His work focuses on explaining daily market moves and the broader trends behind them.

https://coinpaper.com/38857/binance-reopens-87-crypto-networks-after-6-3-b-hack-targets-full-withdrawals-next-week