Binance Plans Phased Withdrawal Restart Across 15 Networks
Binance says it will restore withdrawals on Sunday, November 1, starting with 15 networks. The exchange has not specified the year. It says access will return gradually as networks pass security checks.
- Bitcoin, Ethereum, BNB Smart Chain and Solana are among the networks named.
- Delays are possible, and availability may differ by asset and network.
- Binance says deposits stayed open and it will absorb losses linked to the exploit.
- The announcement does not list all 15 networks or explain how the affected amount was calculated.
Withdrawals will return in stages
The first phase is scheduled to begin between 06:00 and 09:00 UTC. Binance says it will restore withdrawals gradually as individual assets and networks pass security checks. The exchange has not explained what those checks involve or how long the process will take.
Binance named Bitcoin, Ethereum, BNB Smart Chain and Solana among the 15 networks included in the first phase. The available information does not identify the other 11. And inclusion in the phase does not guarantee that withdrawals for every asset on a network will be available as soon as the window opens.
The date is incomplete, too. Binance’s announcement gives Sunday, November 1, but does not specify the year. Users cannot determine the intended calendar date from the announcement alone.
Deposits and the exchange’s assurances
Binance says deposits remained open during the withdrawal disruption. Deposits and withdrawals are separate services. A deposit reaching an exchange does not mean a user can withdraw it right away. If you are making a time-sensitive transfer, check Binance’s current status information for the specific asset and network first.
The exchange says balances for 10 major digital assets are fully backed, but has not named them or explained how it assessed that backing. The statement refers to balances. The announcement does not clarify whether, or how, this relates to funds affected by the exploit.
Binance also says it has covered about 95% of the amount affected by the exploit and will absorb all losses rather than pass them on to customers. The exchange has not explained what “covered” means, disclosed the total amount affected or said how it will handle the remaining amount. These are Binance’s claims, and the information provided includes no independent verification.
What is still unknown
The incident is described as a hack or exploit, but the available details do not say what was compromised, how or when it happened, or how much was affected. The announcement also leaves the year, the full list of networks and the timeline for completing the restoration unspecified.
Those gaps matter. Binance’s promise to cover losses and its claim that balances are backed are relevant assurances. But customers have little information to assess them without figures, clear definitions and verification details.
Key questions and answers
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When are withdrawals scheduled to start returning?
Binance says the first phase will begin Sunday, November 1, between 06:00 and 09:00 UTC. The announcement does not specify the year.
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Which networks are named for the first phase?
Bitcoin, Ethereum, BNB Smart Chain and Solana are among the 15 networks. The available information does not identify the other 11.
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Will deposits be available to withdraw right away?
Not necessarily. Binance says deposits remained open, but withdrawals are returning gradually and availability may differ by asset and network.
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What has Binance said about the losses?
Binance says it has covered about 95% of the affected amount and will absorb all losses. It has not explained what “covered” means or disclosed the total amount.
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What does Binance mean by “fully backed” balances?
The exchange says balances for 10 major digital assets are fully backed, but has not named the assets or explained how it assessed that claim. Binance flow signals are a separate market topic and do not verify the backing claim.
