Binance Starts Second Withdrawal Phase as Outflows Slow After $6.3 Billion Hack

Binance is expanding cryptocurrency withdrawals from 04:00 UTC on Tuesday, November 3, as the exchange continues recovering from a $6.3 billion security breach. The second phase covers additional assets across several blockchain networks, including Ethereum, Solana, BNB Smart Chain, XRP and Sui. Some withdrawals on Arbitrum, Optimism, Tron and Base will also resume. Binance has not specified every token eligible for withdrawal.

The latest reopening follows Sunday’s initial restoration of withdrawal services. Binance recorded approximately $3.64 billion in net outflows during the first nine and a half hours. Customers withdrew $4.65 billion while depositing $1.01 billion. The exchange said those net outflows represented about 2.1% of its $171 billion in assets. However, withdrawal volumes slowed after the initial surge, suggesting pressure on the platform was easing.

Binance previously suspended withdrawals to contain the breach and conduct security assessments. The company says it has replenished approximately 95% of affected assets and will absorb the losses rather than pass them to customers. Meanwhile, the exchange continues testing withdrawal infrastructure and monitoring transaction activity. Further restoration will depend on successful security checks, while customers may experience processing delays during the phased reopening.