Binance Restores Bitcoin Withdrawals in First Phase After Multi-Billion Dollar Hack
Binance restores Bitcoin withdrawals in controlled phase
Binance has begun a phased restart of crypto withdrawals just days after a massive $6.3 billion hack. The exchange, which is a platform for buying and selling digital assets, reopened services for Bitcoin (BTC) and several other networks on Sunday morning.
The first withdrawal window took place between 06:00 and 09:00 UTC on November 1, 2026. This move follows the largest hack on record, which occurred late Thursday and targeted the company's online storage systems.
Key numbers from the recovery process
- $6.3 billion in crypto assets were estimated stolen during the breach.
- 15 blockchains, including Bitcoin, were included in the first phase of reopening.
- 3 hours was the duration of the initial withdrawal window.
Statements from the official Binance team
In a statement, a Binance spokesperson emphasized that restoring access to user funds is the company's main priority. The exchange is using a controlled approach to ensure that the services return safely. The team is monitoring the situation closely as they bring more features back online.
The exchange explained that the order of the restart reflects recent user demand. Networks that were requested the most by users were given priority during this first stage of reopening.
Confirmed details of the $6.3 billion breach
Binance confirmed that the theft involved its "hot wallets." These are digital wallets connected to the internet that the exchange uses to process everyday payouts to users. The hack is currently recognized as the largest theft in the history of the crypto industry.
The company noted that additional phases of withdrawals will only be opened after thorough security checks. Each blockchain, or the digital ledger used to track transactions, must pass stability tests before being cleared for full use.
What happens next for Binance users
Binance will continue to monitor the security of its systems as it prepares for future phases of the restart. Users can expect more blockchains to become available for withdrawals once they meet the exchange's security and stability requirements.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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