The first phase of withdrawal on binance is now open

[Joy_learns_crypto]

 According to BINANCE post on x they have started the first phase of withdrawal after they blocked withdraw after they got hacked in what is the biggest hack attack in the history of mankind.

Binance has since been dropping positive news and they said they will cover all losses and non of their users would be affected, many doubted if that will be possible and from the comments they get on their social media many people were actually waiting for withdrawal to open.

Binance has said the withdrawal would be in phrase, So if you have been waiting for when binance withdrawal would resume this is a reminder that the first phase is open and the first batch is Bitcoin

[Livingleged]

Binance has said the withdrawal would be in phrase, So if you have been waiting for when binance withdrawal would resume this is a reminder that the first phase is open and the first batch is Bitcoin

A lot of people have been waiting for the withdrawal to be back and when exchanges get hack and withdrawal are suspended, it’s actually create tension and network congestion most especially when the withdrawal are open again. I think that’s why the withdrawals will be in batches. At least loss funds are already accounted for. Even when bitget was hacked same procedure was done when they open the withdrawals after some days.

Good to have the withdrawal back, alteast it will calm the pressure and people can actually use their funds. If they are starting the first phase with bitcoin network then I’m sure other networks will not take much time to open also.

[Charles-Tim]

This thread supposed to be on exchange board.

Also the main thread about Binance breach, people are discussing what is happening there. I can see OmegaStarScream posted about it there, which is this:

https://bitcointalk.org/index.php?topic=5598288.msg67298823#msg67298823

Sergiorus who is the topic creator is also updating it. He will soon update the topic and include it there also. According to what OmegaStarScream posted, only bitcoin is still withdrawable except on lightning network just like how Bitget started the withdrawal after the exchange was also hacked recently.

[cryptoaddictchie]

Binance has said the withdrawal would be in phrase, So if you have been waiting for when binance withdrawal would resume this is a reminder that the first phase is open and the first batch is Bitcoin

How about the deposit of funds? Is it been open too? Or still suspended. Im wondering if trading is open actually since those two important details such as deposits and withdrawals arent working. I had funds left on binance and Im wondering if this can be traded or at least be P2P.

Good to have the withdrawal back, alteast it will calm the pressure and people can actually use their funds. If they are starting the first phase with bitcoin network then I’m sure other networks will not take much time to open also.

Well this must return soon or people will lose their trust over Binance if the funds held long.

[ultrloa]

Binance has said the withdrawal would be in phrase, So if you have been waiting for when binance withdrawal would resume this is a reminder that the first phase is open and the first batch is Bitcoin

How about the deposit of funds? Is it been open too? Or still suspended. Im wondering if trading is open actually since those two important details such as deposits and withdrawals arent working. I had funds left on binance and Im wondering if this can be traded or at least be P2P.

I think their deposit is not affected, but rather the withdrawals only.

But they release a recent update about the withdrawals.

https://www.reuters.com/legal/government/binance-resumes-bitcoin-withdrawals-after-covering-bulk-stolen-63-billion-2026-11-01

https://www.binance.com/en-PH/square/post/11-01-2026-binance-to-resume-withdrawals-in-phases-on-nov-1-says-95-of-loss-covered-383450733387752

And that's actually good to lower more the tension happening, with recent hacking issue happened on their exchange.

Edit:

I check to see if their withdrawal is working. Then I tried to withdraw, but still its processing.

I don't know if they are doing it manually or they return doing automatic withdrawals.

[Majestic-milf]

A lot of people have been waiting for the withdrawal to be back and when exchanges get hack and withdrawal are suspended, it’s actually create tension and network congestion most especially when the withdrawal are open again. I think that’s why the withdrawals will be in batches. At least loss funds are already accounted for. Even when bitget was hacked same procedure was done when they open the withdrawals after some days.

Of course it's normal to be tensed and also panic because it's people's sweat and hard earned monies that were hacked into but I'm happy to see that Binance were quick to act and reassure users that their funds will be reimbursed.

Good to have the withdrawal back, alteast it will calm the pressure and people can actually use their funds. If they are starting the first phase with bitcoin network then I’m sure other networks will not take much time to open also.

Yeah, as at yesterday, withdrawals were paused but deposits could still be made and honestly I wondered if some people will be confident enough to put their funds in Binance after this back but I guess the way the whole thing was handled will give them some hope. Good to know that withdrawals can now take place cause as at yesterday, they said it will be temporarily paused till they work on it.

[Junii]

According to BINANCE post on x they have started the first phase of withdrawal after they blocked withdraw after they got hacked in what is the biggest hack attack in the history of mankind.

Binance has since been dropping positive news and they said they will cover all losses and non of their users would be affected, many doubted if that will be possible and from the comments they get on their social media many people were actually waiting for withdrawal to open.

Binance has said the withdrawal would be in phrase, So if you have been waiting for when binance withdrawal would resume this is a reminder that the first phase is open and the first batch is Bitcoin

I think it will affect the market more because the hack is huge no doubt they said they recover it but people are sensitive to these type of hacks and now they open a withdraw I think we will face a major selling as well as people are waiting for this. One thing these exchanges has to understand that they have to stronger the security as more as possible because in the pillar of survival of crypto security is the important pillar.

[Oluwa-btc]

Is this a Pr that you can trust exchanges ?

I'm not falling for this p honestly. The biggest crypto hack involving Exchanges never saw reimbursement fully back to the victims. Not even Ftx and Mt Gox could do it, I'm keen to see if it happens with Binance. But then,  if this is a pr then we shouldn't forget in a rush that if it is not your keys, it can never be your coins. They will try to return to a little few bit completely?! I harbour doubts truthfully.

[Sobz]

Binance has said the withdrawal would be in phrase, So if you have been waiting for when binance withdrawal would resume this is a reminder that the first phase is open and the first batch is Bitcoin

For now it seems it is only bitcoin and usdt that can be withdrawn and the usdt every network is still suspended apart from Bsc. Atleast those who are comfortable in holding theur asset on exchange can learn from this terrible experience from Binance. Binance being a big exchange nobody ever thought this can happen,  if it was one of the small exchange,  they would have concluded it happened because it is a small exchange but since it is binance one of the biggest exchange atleast people will have the understanding that it can happen to exchange because hackers are learning everyday and you never can tell how and when they are coming from centralized exchange and which exchange will be the next.

[Joy_learns_crypto]

Binance has said the withdrawal would be in phrase, So if you have been waiting for when binance withdrawal would resume this is a reminder that the first phase is open and the first batch is Bitcoin

For now it seems it is only bitcoin and usdt that can be withdrawn and the usdt every network is still suspended apart from Bsc. Atleast those who are comfortable in holding theur asset on exchange can learn from this terrible experience from Binance. Binance being a big exchange nobody ever thought this can happen,  if it was one of the small exchange,  they would have concluded it happened because it is a small exchange but since it is binance one of the biggest exchange atleast people will have the understanding that it can happen to exchange because hackers are learning everyday and you never can tell how and when they are coming from centralized exchange and which exchange will be the next.

According to their latest NEWS it is not only USDT on BSC network that has been open, Ethereum network- USDT, USDC, ETH are available.
Like they said the withdrawal is in phases and they have lived up to the time range they gave for it to start which is a very good thing from then looking at the weight of what was stolen away.

[hmbdofficial]

Is this a Pr that you can trust exchanges ?

I'm not falling for this p honestly. The biggest crypto hack involving Exchanges never saw reimbursement fully back to the victims. Not even Ftx and Mt Gox could do it, I'm keen to see if it happens with Binance. But then,  if this is a pr then we shouldn't forget in a rush that if it is not your keys, it can never be your coins. They will try to return to a little few bit completely?! I harbour doubts truthfully.

I don’t see it as a PR though, I’m seeing it as an exchange just trying to prove how reputable and big player they  are in the crypto industry. I was thinking in this your direction too, but I think Binance is big enough to handle this kind of loss and move on with their business and they will recover in no time.
For me I’m convinced by how the Binance team handled the situation and i have really no doubt about the exchange. I’ll still keep using them and it’s not like I’m marketing for Binance here it’s just based on my preference.

[Dickiy]

Binance has said the withdrawal would be in phrase, So if you have been waiting for when binance withdrawal would resume this is a reminder that the first phase is open and the first batch is Bitcoin

A lot of people have been waiting for the withdrawal to be back and when exchanges get hack and withdrawal are suspended, it’s actually create tension and network congestion most especially when the withdrawal are open again. I think that’s why the withdrawals will be in batches. At least loss funds are already accounted for. Even when bitget was hacked same procedure was done when they open the withdrawals after some days.

Good to have the withdrawal back, alteast it will calm the pressure and people can actually use their funds. If they are starting the first phase with bitcoin network then I’m sure other networks will not take much time to open also.

Withdrawals are carried out in several stages which indicates that there will be a massive withdrawal movement from its users. And it is evident that I see that there are around +2,242 BTC that have been confirmed for withdrawal.

[OcTradism]

Is this a Pr that you can trust exchanges ?

There will be a bank run because you will never know what will happen next so to be safe, at least you must withdraw your money to non custodial wallets. It does not harm you anything by withdrawing fund to your wallets, and waiting for dust to settle.

I'm not falling for this p honestly. The biggest crypto hack involving Exchanges never saw reimbursement fully back to the victims. Not even Ftx and Mt Gox could do it, I'm keen to see if it happens with Binance.

If people still believe in Binance, they must, as said, wait for dust to settle, before funding their Binance accounts and use this exchange again. Before the dust settles, storing fund on Binance is very risky and I don't recommend this practice.

Binance of course has better management than FTX but what happened with FTX, Terra are still very scary and valuable lessons for everyone.

[Ziskinberg]

Is this a Pr that you can trust exchanges ?

I'm not falling for this p honestly. The biggest crypto hack involving Exchanges never saw reimbursement fully back to the victims. Not even Ftx and Mt Gox could do it, I'm keen to see if it happens with Binance. But then,  if this is a pr then we shouldn't forget in a rush that if it is not your keys, it can never be your coins. They will try to return to a little few bit completely?! I harbour doubts truthfully.

We will see, but based on what I've read about past hacks, the losses were also covered by their SAFU fund. So in this case, I think it's still the same. After all, if Binance doesn't fulfill their promise we will see a lot of complaints and thus far, it seems I haven't seen any yet, so I assume everything is slowly falling into place, working as planned.

[EjiukaSpecial]

Binance has once again shown why they're the biggest crypto exchange in the world with how they've been very intentional in reassuring their customers about the safety of their funds during the course of the recent hack incident which is reported to be the largest hack in crypto history.

Allowing withdrawal option to open now is another good step to tell their customers that they've got everything under control. But for a hack of that magnitude, will resuming withdrawal now be enough to restore users confidence, especially the newbie customers?

As much as I know, they've been transparent  about how they're handling the issue but maybe, being more transparent about the security measures they've introduced to prevent something similar from happening again will go a long way in rebuilding any lost trust.

[freedomgo]

But for a hack of that magnitude, will resuming withdrawal now be enough to restore users confidence, especially the newbie customers?

Of course.. Because this is not the first time that Binance was hacked,

in 2019 their hot wallet was hacked and they lost $40 million and at that time their average daily trading volume was only almost $3 billion, those were the early stages of Binance and yet they still survived. so after that, another hack happened, $570 million estimated loss from the BNB Chain bridge exploit but their trading volume was already around $60 billion at that time, they still recovered.

now this happened, their daily trading volume is around $31 billion ( still big, ) and they survived this again.

So you see from the timeline, despite the hacks happening, people still regain their trust because every time that happened, funds were compensated.

[Fiatless]

We will see, but based on what I've read about past hacks, the losses were also covered by their SAFU fund. So in this case, I think it's still the same. After all, if Binance doesn't fulfill their promise we will see a lot of complaints and thus far, it seems I haven't seen any yet, so I assume everything is slowly falling into place, working as planned.

According to Binance, they have covered ninety percent of the losses from this hack. So I'm not surprised they have restored withdrawals. The exchange is assuring users that they will not experience any loss because of this sad event. The company is trying to build its reputation by assuring users that it is big enough to cover the losses. I hope users get back their funds and maybe move them to non-custodial wallets.

[LFC_Bitcoin]

I never really had any doubt that they’d resume to be fully operational with ‘apparent’ 1:1 reserves. I just don’t trust them at all and I don’t think it was a real hack. Yet another warning to not keep your coins on an exchange for any significant period of time. Not your keys, not your coins.

[pooya87]

in what is the biggest hack attack in the history of mankind.

Things have been getting crazy in the records these centralized exchanges keep setting as the most amount of funds being stolen!!! You'd think after so many hacks in so many years, they'd do something to prevent such large thefts at the very least!

Binance has since been dropping positive news and they said they will cover all losses

This part is even crazier. How much profit have they been making that they can easily say they can cover billions of dollars stolen?!

[Obim34]

Binance has said the withdrawal would be in phrase, So if you have been waiting for when binance withdrawal would resume this is a reminder that the first phase is open and the first batch is Bitcoin

From my search, only 90% of the stolen funds have been settled to their customer, those who can't withdraw yet will have to wait a little longer (mainly in tokens), although Binance will recover for everyone. They've been hacked multiple times, and it's becoming disturbing. If it happens again, I'm concerned they may not have enough funds to handle the situation for everyone.