Binance warned users on November 1 about fake reward campaigns and phishing links circulating after an October 29 security breach, as the exchange restored withdrawal services across 15 blockchain networks. Co-founder Yi He said no cash voucher promotion was running, and that a planned community rewards campaign still required regulatory approval before it could officially launch. The company said additional withdrawal routes would return once security checks were completed.

Her statement followed screenshots circulating on social media advertising $150 payments to users over the withdrawal suspension. Eowyn Chen separately denied that compensation would be paid for the pause and directed users toward official updates. Meanwhile, the U.S. Secret Service said it continued to investigate the theft of more than $6 billion, and Changpeng Zhao thanked investigators and industry partners for quickly tracking and freezing stolen assets.

Binance also reiterated that balances in major assets remained fully backed and that deposit services stayed open throughout the phased restoration of withdrawals.

Community Rewards Still Need Regulatory Approval

Yi He said the Binance community rewards campaign could begin once the regulator completed its review and granted approval. She expected that review to occur when offices reopened on Monday, November 2 — a timeline describing the review process, with the launch remaining dependent on the regulator's decision.

Binance's community rewards campaign requires regulatory approval and will go live after the regulator reviews and approves it once offices open tomorrow. There is currently no cash voucher campaign, so please be vigilant against all types of phishing and scam links.…

— Yi He (@heyibinance) November 1, 2026

Post link: https://x.com/heyibinance/status/2116864322412720171?ref_src=twsrc%5Etfw

She also urged users to stay vigilant against phishing links and fraudulent promotions. Her statement did not identify the reviewing authority or announce a confirmed launch time. Regulatory approval remained outstanding when she posted the clarification, and no official rewards program had been scheduled. That pending sign-off is the dividing line between the genuine campaign and the circulating fakes: any legitimate claim process can only begin after the regulator approves and Binance formally launches the program.

No Compensation for the Suspension

Chen, who previously served as chief executive of Trust Wallet and was serving as Binance's interim marketing chief, issued a separate warning. She said users would receive no compensation for the withdrawal suspension and should rely on announcements published through official accounts.

Fake screenshots circulating online claimed users could receive $150 because withdrawals had been paused. X user @williamclay also called the images fabricated, warning against messages directing users to check a rewards hub or follow a claim link to collect the promised payment.

The alerts distinguish the proposed community campaign, which has not launched, from the false compensation offers already circulating. Binance has separately committed to covering losses from the security incident using company resources. That undertaking concerns stolen assets, while the disputed screenshots advertise additional payments for the disruption to withdrawal services. The fake offers used the suspension period to promise payouts — a framing that could make the screenshots appear connected to the genuine recovery announcements Binance was publishing at the same time, despite the public denials from both executives.

Withdrawals Resume as Secret Service Investigates Crypto Theft

Binance began restoring withdrawals on Sunday, November 1, following a precautionary suspension imposed during its security checks. Its latest update confirmed access across 15 networks, with additional routes set to return as the remaining checks were completed.

Bitcoin, Ethereum, BNB Smart Chain, XRP Ledger, Base, Dogecoin and Optimism were among the restored networks. Arbitrum, Tron, Solana, Polygon and Avalanche C-Chain also resumed listed services. The update added ZEC through Zcash, USDT and GRAM through TON, and SUI through Sui.

Ethereum and Optimism supported ETH, USDT and USDC, while Base supported ETH and USDC. Arbitrum included ARB, ETH, USDT and USDC. Polygon included POL, USDT and USDC, while Avalanche C-Chain included AVAX, USDT and USDC. Withdrawal support for individual tokens varied by network.

The exchange said it had paused withdrawals to contain losses, assess the incident and verify affected infrastructure. Its recovery announcement cautioned that heavier traffic could temporarily slow processing during the rollout, while deposits remained open throughout the phased restoration. For users, the phased approach meant a given asset could only move once its network cleared checks, which made the official restoration list the practical reference point while outstanding routes waited to return.

Separately, the U.S. Secret Service said investigators and industry partners acted within minutes of the Thursday afternoon incident on October 29. They identified and froze a significant portion of the stolen cryptocurrency, while investigative work continued into the theft of more than $6 billion. Both the agency and Zhao described the response as a joint effort, pairing law-enforcement authority with the industry's ability to freeze on-chain assets.

Zhao thanked the agency, other authorities and industry partners in an X post published on November 1, saying the rapid response helped contain the damage and reduce the risk of potential ripple effects across crypto and broader financial markets.

Thank you, @SecretService , and all the agencies and industry partners involved. You acted within minutes to help track and freeze stolen funds, and the work continues. Your speed, expertise, and dedication helped contain the damage and reduce the risk of potential ripple effects…

— CZ BNB (@cz_binance) November 1, 2026

Post link: https://x.com/cz_binance/status/2116977683393618404?ref_src=twsrc%5Etfw

Balances Fully Backed, Coverage Reaches 95%

In its latest update, Binance said BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC balances were fully backed. Users could review the latest reserve snapshot through the exchange's official proof-of-reserves page.

The exchange said it had covered approximately 95% of the affected amount, compared with 90% in its previous update. The remaining 5% involved less liquid tokens that required more time to source through market and over-the-counter purchases. For users, the proof-of-reserves page doubled as an independent check on those claims while the last tranche of tokens was still being sourced.