Binance has reopened withdrawals across 87 blockchain networks as the exchange continues its recovery from a $6.3 billion security breach that occurred on October 29, 2026. The exchange confirmed on November 14 that withdrawal services have resumed on networks including Ethereum-related protocols, Litecoin, Cardano, and Avalanche, among others.
The company stated it intends to restore full withdrawals across all remaining networks and assets by the end of the following week, though this timetable represents a target rather than a guarantee. Binance cautioned that customers may experience temporary delays and longer processing times as withdrawal activity resumes, and advised users to consult the exchange's network status page before initiating transactions.
Details of the October Attack
The October 29 intrusion resulted in attackers extracting approximately $6.3 billion from Binance-controlled hot wallets across more than a dozen blockchains. Stolen assets included roughly 167,464 ETH and approximately $1.6 billion in tether (USDT), along with additional cryptocurrencies.
Blockchain analysts documented that most stolen funds departed Binance-controlled wallets within approximately 20 minutes of the attack. Third parties subsequently froze around $3 billion, potentially limiting the ultimate financial damage, though the final recoverable amount remains uncertain.
Investigators identified a compromised DevOps engineer's laptop as an entry point to the exchange's systems. Blockchain researchers documented the exploitation of Ethereum's EIP-7702 authorization mechanism. Blockchain investigators and the FBI attributed the attack to North Korea's TraderTraitor group with high confidence.
Binance stated that customer funds remain protected and pledged to absorb losses using its SAFU fund and corporate resources.
Bitcoin Reserve and Flow Metrics
Cryptoquant data shows approximately 688,900 BTC held in Binance reserves as of November 14, 2026. The exchange has experienced pronounced negative netflows during early November, with the latest netflow reading near negative 485.7 BTC. Negative netflow readings indicate more bitcoin leaving exchange-associated wallets than entering them.
Recent daily observations show approximately 2,300 BTC in outflows and 1,800 BTC in inflows, both substantially below historical extremes recorded during previous market cycles.
The resumption of withdrawal functionality marks measurable operational progress, though the security investigation remains ongoing and infrastructure security must still be demonstrated to customers and regulators.
