BNB traded near $707 on November 1 as Binance began reopening withdrawals following its $6.3 billion hack. Bitcoin withdrawals were live, while other assets were scheduled to return gradually through phased rollouts. The exchange set its first restart window between 06:00 and 09:00 UTC on Sunday.
Phased Reopening Across 15 Networks
Withdrawals are returning by asset and network rather than through a single reopening for all customers. Bitcoin was the first network confirmed open, followed by Ethereum, Solana, BNB Smart Chain, Tron, XRP Ledger, Zcash, and Dogecoin in the first phase. The remaining networks include TON, Polygon, Avalanche C-Chain, Arbitrum, Base, Optimism, and Sui.
Each withdrawal route must pass security and stability checks before reopening. Stablecoin support varies across chains—for example, Ethereum and Solana routes include USDT and USDC, while Tron supports USDT alongside TRX. Binance warned that heavy traffic could cause temporary delays or longer processing times.
Recovery Efforts and Asset Replacement
Binance reported replacing approximately 95% of affected assets, up from 90% in its previous update. The exchange identified lower liquidity as an obstacle to purchasing remaining tokens quickly and reiterated that it would absorb financial losses from the breach.
Other wallets remain under repeated security audits and checks of their protective systems. Binance cited market capitalization, locked funds, and user numbers as priorities, along with withdrawal demand recorded during the previous week.
Price Action and Technical Levels
BNB price traded at $706.55 on November 1, up 0.79% with a daily range of $702.28–$706.79. The price remained below $710, a nearby resistance level. Technical analysis showed the 20-day moving average at $731.04 and the 50-day average at $749.09, with the 200-day average at $655.18, placing BNB below shorter-term averages while above longer-term reference points.
The Ichimoku Kijun line identified resistance at $734.03, with the $731–$749 area representing multiple hurdles above current market levels.
Law Enforcement Response
The FBI urged THORNode operators and DeFi services to block transactions linked to the Binance hack. THORChain co-founder Chad Barraford responded that node operators hold no nonpublic information and that investigators can retrieve public data without subpoenas. His statement did not indicate whether operators would block transactions.
