Binance Aims to Restore All Withdrawals by Next Week After $6.3 Billion Security Breach

Cryptocurrency exchange Binance is targeting the restoration of withdrawals across all remaining blockchain networks and digital assets by the end of next week, as it continues recovering from a major security breach that disrupted customer withdrawals. The exchange announced on November 14 that it had reopened withdrawal services across 87 networks during the week, marking another step towards returning its platform to normal operations.

The update follows Binance’s commitment to replace the assets affected by the security incident, which resulted in approximately $6.3 billion worth of cryptocurrency being stolen. The company has said it has completed coverage of the affected assets and committed more than $6.34 billion in company funds to compensate for the losses. However, withdrawals are being restored in phases, and Binance has warned that some transactions could experience delays during the process.

Binance Reopens Withdrawals Across 87 Blockchain Networks

In its November 14 recovery announcement, Binance confirmed that withdrawal services had resumed across 87 blockchain networks.

The reopening covers several major cryptocurrency ecosystems, including Aptos, Hyperliquid, Litecoin, NEAR Protocol, Cardano, Avalanche, Stellar, Cosmos, Filecoin and Celestia.

Other networks included in the latest restoration include Ethereum-related networks and several smaller blockchain ecosystems.

The phased reopening is part of Binance’s effort to restore access while completing security and operational checks.

The exchange said it aims to reopen withdrawals for all remaining networks and assets by the end of next week.

However, the company has not guaranteed that every transaction will be processed immediately once services resume. Higher-than-normal traffic during the recovery period could result in longer processing times.

Binance has advised users to check the withdrawal page for their selected cryptocurrency and network before initiating a transaction.

$6.34 Billion in Assets Replaced After Security Incident

The withdrawal restrictions followed a major security breach in which approximately $6.3 billion worth of digital assets were stolen.

Binance said it committed more than $6.34 billion in company funds to cover the affected assets.

The replacement process involved sourcing cryptocurrencies through market purchases and over-the-counter channels. This was particularly important for tokens with lower liquidity, where acquiring large quantities without significantly affecting market prices can be difficult.

The company said the funding came from multiple sources, including:

• A partial deployment of its Secure Asset Fund for Users (SAFU).
• A portion of Binance’s Futures insurance fund above its required risk-management level.
• Funds from Binance’s corporate treasury.

Binance’s latest announcement indicates that the asset replacement process has been completed.

However, replacing affected assets and restoring withdrawal functionality are two separate steps. Customers may still face restrictions on particular networks while the exchange completes the remaining operational checks.

Binance Publishes New Proof of Reserves Snapshot

Alongside its recovery announcement, Binance published an updated Proof of Reserves snapshot dated November 12, 2026.

The snapshot covers 198 tokens and is intended to provide users with an updated view of the assets held by the exchange.

Proof of Reserves is a mechanism through which cryptocurrency exchanges provide information intended to demonstrate that customer assets are backed by corresponding reserves.

Binance said the new snapshot would allow users holding affected tokens to independently verify that their assets are backed at a minimum of 1:1 once the complete zero-knowledge proof is generated.

The company estimated that generating the full proof would take approximately 40 to 50 hours because of the computational requirements.

The updated disclosure is part of Binance’s effort to restore confidence following the security incident.

However, Proof of Reserves should not be interpreted as a complete independent audit of an exchange’s financial condition. It provides information about specified assets and liabilities at a particular point in time, rather than establishing that every aspect of the company’s operations is free from risk.

Binance Plans to Replenish SAFU Fund to $1 Billion

Another important part of Binance’s recovery plan involves rebuilding its Secure Asset Fund for Users.

SAFU is an emergency reserve established by Binance to provide protection for users in certain exceptional circumstances.

The company said it had partially deployed the fund as part of the asset replacement process.

Binance has committed to replenishing SAFU to approximately $1 billion, restoring the reserve to its intended level.

The replenishment is important because the fund serves as an additional protection mechanism within the exchange’s risk-management framework.

The company has not indicated that the replenishment is already complete. It remains a separate commitment from the reopening of withdrawal services.

Security Breach Raises Questions About Cryptocurrency Exchange Risks

The incident has renewed attention on the security risks associated with centralised cryptocurrency exchanges.

Binance is one of the world’s largest digital asset trading platforms, handling transactions across numerous blockchain networks and cryptocurrency markets.

A major security incident can affect more than the exchange’s internal systems. It can also disrupt customer access to assets, create liquidity pressures and raise questions about the reliability of withdrawal infrastructure.

According to Reuters, Binance and the FBI have attributed the breach to North Korea, while Pyongyang has denied responsibility. Blockchain investigation firms have linked the attack to the North Korean hacking group TraderTraitor.

The incident reportedly followed a multi-stage intrusion campaign that began in June 2026 and culminated in the theft on October 29.

Binance’s response has involved replacing affected assets, restoring withdrawals gradually and publishing updated reserve information.

The exchange has also said it is continuing to strengthen its security infrastructure.

What Binance Users Should Know

Although Binance has reopened withdrawals across 87 networks, customers should not assume that every cryptocurrency and blockchain combination is immediately available.

Withdrawal availability can differ depending on the asset and the network selected.

Users should verify the status of their intended withdrawal through Binance’s official withdrawal page or network-status information.

They should also ensure that the receiving wallet supports the selected blockchain network. Sending cryptocurrency through an incompatible network can result in permanent loss of funds.

Binance has warned that temporary delays may continue as more withdrawal services become available and transaction volumes increase.

The company’s target is to restore all remaining networks and assets by the end of next week, but the actual availability of individual withdrawal routes should be checked directly.

The Bigger Picture

Binance’s recovery highlights the operational challenges that major cryptocurrency exchanges face when a security incident affects a large number of digital assets. Replacing stolen tokens is only one part of the process. Exchanges must also verify wallet infrastructure, restore blockchain connections, manage liquidity and ensure that withdrawal systems can operate safely. The reopening of 87 networks represents progress, but the remaining restoration work is necessary before the platform can return to full withdrawal availability.

The incident also places greater importance on transparency and independent verification in the cryptocurrency industry. Binance’s updated Proof of Reserves snapshot and its commitment to replenish SAFU are intended to strengthen user confidence. However, customers and market participants will continue to watch whether the exchange meets its restoration timeline and how effectively it addresses the security weaknesses exposed by the breach.

Looking Ahead

Binance aims to restore withdrawals across all remaining networks and assets by the end of next week. The exchange’s ability to meet that target will depend on completing security checks and managing the increased transaction demand expected as customers regain access to their funds. The replenishment of SAFU to approximately $1 billion will also remain an important milestone in the company’s recovery.

For the wider cryptocurrency industry, the incident serves as a reminder that exchange security and customer access to funds are fundamental to market confidence. Even when an exchange commits to covering customer losses, withdrawal restrictions can create significant disruption. Binance’s next steps will be closely watched as it works to restore normal operations and demonstrate that its security and risk-management systems have been strengthened.