Binance will bring cryptocurrency withdrawals back online in stages following a security exploit, with the first phase scheduled to begin between 06:00 and 09:00 UTC on November 1, 2026. The exchange said withdrawal services will return gradually as individual digital assets and their underlying blockchain networks clear the required security checks.

Details of the phased rollout were shared by Coin Bureau on X. According to that information, the reopening is intended to restore withdrawal access progressively rather than make all supported assets available simultaneously, and Binance has warned that users may experience temporary delays while the process is underway.

First Withdrawal Phase to Cover 15 Networks

The initial stage, referred to as "Phase One," will cover 15 blockchain networks, with Bitcoin, Ethereum, BNB Smart Chain, and Solana specifically identified among them.

For each asset, withdrawals will become available only once security checks covering both the token and its corresponding network have been completed. That means access may return at different times across Binance's supported digital assets, even after the initial reopening window begins, with the remaining networks following as their checks are cleared.

The exchange has not indicated that all withdrawals will be available immediately during the first phase. Instead, the phased structure allows each network to undergo security verification before its withdrawal services are restored.

Withdrawals are the function through which users move funds off the exchange, which is why the pace of this rollout is the practical measure of how quickly account holders regain access to their assets.

Binance Reports Full Backing for 10 Major Digital Assets

Binance also stated that balances across 10 major digital assets are fully backed, an assurance aimed at addressing user concerns about the accessibility of funds in the wake of the exploit.

In addition, the exchange confirmed that deposits remain open, meaning users can continue depositing supported assets while withdrawal services are being restored in stages.

Binance further said it would absorb all losses associated with the incident, emphasizing that none of them would be passed on to users. The commitment is a central part of the exchange's response as it works to restore normal access to affected services.

Exchange Says It Has Covered About 95% of Exploit Impact

Another significant detail in Binance's announcement is its claim that approximately 95% of the amount affected by the exploit has already been covered. The figure signals the progress the exchange says it has made in addressing the financial impact of the incident.

The announcement does not, however, specify the exact monetary value involved or provide a detailed breakdown of the recovery process. When the networks beyond Phase One will clear their checks, and whether more detail will be published on the exact amount affected, are the main open questions left by the announcement.

For users, the immediate priority remains the gradual restoration of withdrawal functionality. Because the availability of individual assets depends on security checks, temporary delays may continue as the exchange works through the 15 networks included in Phase One.

Taken together, Binance's announced measures include the phased resumption of withdrawals, continued deposit availability, full backing for balances in 10 major digital assets, and a commitment to absorb all losses without transferring them to customers, alongside its statement that about 95% of the impacted amount has already been covered.

Source: Hokanews