Binance Reopens Crypto Withdrawals on 87 Networks After Hack

Which Binance withdrawal networks reopened?

Saturday’s list includes Cardano (ADA), Litecoin (LTC), Stellar (XLM), Aptos (APT), NEAR, Filecoin (FIL) and Avalanche (AVAX). It also includes networks such as Linea, Scroll and ZKsync Era, which can carry multiple tokens.

Binance directed customers to its deposit and withdrawal status page or the withdrawal screen to look up their specific combination of coin and network. A token can be available on one network while withdrawals on another remain suspended. Binance’s withdrawal guide says the network selected on the exchange must match the one supported by the receiving wallet.

The exchange halted withdrawals after the October 29 theft and began reopening Bitcoin and Ethereum routes on November 1. Its November 6 rollout listed individual tokens on chains including BNB Smart Chain, Base and Ethereum. Saturday’s notice gives a broader network list and a target for reopening the remaining routes.

Binance hack losses and frozen funds

Binance’s November 3 incident report estimated that about $6.34 billion in assets were affected. Elliptic traced $6.43 billion in unauthorized transfers across 11 blockchains, including a second wave on Avalanche and Polygon later on October 29. The FBI attributed the theft to North Korea’s TraderTraitor group.

In its November 13 update at 07:30 UTC, Elliptic estimated $2.85 billion was frozen and about $2.8 billion remained in addresses linked to the theft. The figures reflect balances at the time of the update. Elliptic’s earlier on-chain review identified 1.18 billion USDT and 823 million USDC that their issuers froze in a single wallet on October 29. Binance did not disclose an affected customer count in Saturday’s notice.

The U.S. Justice Department said November 12 that government and private-sector efforts had frozen more than $2.7 billion. Court authorization to seize or restrain more than $1.2 billion covers part of that frozen pool.

Binance reserves and the withdrawal timetable

Binance said Thursday it had finished replacing the affected assets using its treasury and portions of two company funds, including the Secure Asset Fund for Users. It pledged to restore that emergency fund to about $1 billion.

The exchange also published a November 12 reserve snapshot covering 198 tokens. The snapshot records balances at a point in time. Binance said the full cryptographic proof would let affected holders verify the backing for their balances, while the withdrawal rollout determines when they can move funds. The company estimated that generating the proof would take 40 to 50 hours. Saturday’s notice gave no update on the proof.

The Crypto Fear & Greed Index fell to 13 on Saturday from 20 on Friday, both in Extreme Fear territory.

Binance did not list the routes still closed or give individual reopening times. Its next recovery notice will show how much of the rollout remains ahead of the stated target.