Binance is set to restart customer withdrawals on November 1, beginning with a first restoration phase scheduled between 06:00 and 09:00 UTC, after the service was suspended during a security incident. The exchange said access will be restored gradually as security checks are completed. For customers, the restart marks the return of a core service — moving assets off the platform — that has been unavailable since the suspension. Alongside the restart plan, Binance reported recovering approximately 95% of the affected funds, an increase from 90% in its previous update, and pledged to absorb remaining losses without passing costs on to customers.

Phased Withdrawal Restart on November 1

According to Binance Africa's November 1 update, the exchange will reopen withdrawals through a phased rollout. The first phase covers selected networks and assets, with additional options returning after further readiness checks. The staggered structure ties each step of the rollout to completed readiness checks, so availability will vary by network and asset during the early phase.

Binance said it prioritized assets using user demand data from the previous week. Processing times may increase during the initial rollout because of higher traffic. The company advised users to check individual withdrawal pages or Binance's network status page before initiating transactions, and to retry shortly afterward if a listed withdrawal fails.

Deposit services remain open and were not affected by the incident. Binance said its teams have reviewed affected services, assessed withdrawal infrastructure, and continue to monitor remaining security risks.

Fund Recovery Rises to 95%

The exchange said it has covered approximately 95% of the affected amount using company resources, up from 90% reported in its previous recovery update. Binance is still sourcing the remaining 5% through market purchases and over-the-counter channels, and reiterated that customers will not absorb the outstanding losses. The pledge places the outstanding shortfall on the company's own resources rather than on customer balances.

The remaining assets fall outside the ten major tokens named in the announcement, and the exchange said their lower market liquidity means large-scale purchases take longer. Meanwhile, Binance confirmed full backing for BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC. Customers can check reserve information through the company's proof-of-reserves website.

Investigation Continues

Binance said it is working with law enforcement and industry partners to trace the stolen funds, and thanked the partners who helped freeze assets and support recovery efforts. The company said it will publish a post-incident report after completing its investigation.

The exchange reiterated that it will absorb the financial impact of the stolen funds rather than pass losses on to users, and said it will continue monitoring platform performance as additional withdrawal networks and assets become available. For readers following the incident, the markers to watch are the completion of the remaining 5% recovery, the return of the outstanding withdrawal networks and assets, and the publication of the post-incident report.