The restoration is being conducted in stages rather than through a single network-wide reopening. Binance has prioritized assets based on user demand, allowing some of the most frequently requested cryptocurrencies to regain withdrawal access ahead of others.
Binance Reopens Withdrawals for More Than 62 Tokens
In announcements published on November 5 and November 6, Binance confirmed the reopening of withdrawals for more than 62 tokens across several networks, including Ethereum and BNB Smart Chain. The latest batch began at 04:00 UTC on November 5.
The exchange started restoring withdrawal services on a network-by-network and asset-by-asset basis from November 1. This phased approach means that the availability of a particular token depends on whether its associated network and withdrawal service have been restored.
Binance has also used withdrawal demand over the preceding week to determine the order in which assets return. Ethereum (ETH), Tether (USDT) and USD Coin (USDC) were among the assets prioritized during the initial restoration stages.
Customers holding less frequently requested tokens have faced longer waiting periods as Binance works through the remaining assets and networks.
Binance Records $3.64 Billion in Net Outflows
The first day of reopened withdrawals produced approximately $3.64 billion in net outflows across 15 networks on November 1.
The figure represented approximately $4.649 billion in withdrawals against $1.01 billion in deposits. The difference indicates that customers moved substantially more assets out of the exchange than they deposited during that period.
Binance has reportedly replenished approximately 95% of the assets affected by the security incident. The exchange covered the losses through its reserves, including funds from its Secure Asset Fund for Users (SAFU).
Although the replenishment figure indicates that most affected assets have been covered, approximately 5% remains outside the reported replenishment total.
Proof of Reserves Updated During Recovery
Binance's recovery efforts have focused on restoring affected assets and gradually returning withdrawal access. Alongside the service restoration, the exchange has updated its Proof of Reserves disclosures and published asset snapshots.
Proof of Reserves is intended to demonstrate that a cryptocurrency exchange holds sufficient assets to cover customer balances. The updated disclosures provide additional information for users and external observers assessing the platform's asset position following the incident.
Binance has also committed to providing regular updates on the recovery process and the availability of individual assets. Deposits remained operational while withdrawal services were being restored, allowing incoming transfers to continue during the disruption.
Remaining Withdrawals Targeted for Next Week
The end-of-next-week target is now the main timeline for Binance customers waiting to withdraw assets that have not yet been restored. The exchange's approximately 95% replenishment figure suggests that most affected assets have been covered, although the recovery process is not yet complete.
The demand-based restoration order has also meant that liquidity for ETH, USDT and USDC became accessible on Binance earlier than for some smaller tokens. Users holding assets that were lower on the priority list have had to wait for their respective withdrawal services to return.
Further attention is likely to focus on Binance's updated Proof of Reserves, asset snapshots and subsequent announcements as the exchange works toward completing the restoration.
source: cryptobriefing
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
