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Binance Says It Replaced 95% of Stolen Crypto for Users

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Binance Says It Replaced 95% of Stolen Crypto for Users

Binance began restoring withdrawals in phases Sunday (Nov. 1) at 06:00 UTC (1 a.m. EST), and by about 6½ hours later resumed withdrawals for the 15 networks and assets in the first phase, the company said in a post on X.

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Binance had paused withdrawals after hackers stole $6.3 billion from its cryptocurrency exchange late Thursday (Oct. 29). PYMNTS reported Friday that this was the biggest crypto theft ever.

Announcing the first phase of restoration of withdrawals in its Sunday post on X, Binance said: “After an initial spike, withdrawal volumes have declined and are stabilizing as expected, while deposit volumes have remained substantial.”

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During that initial 6½-hour period, Binance processed $4.649 billion in withdrawals and $1.01 billion in deposits. The net outflow of about $3.64 billion amounted to 2.1% of the company’s $171 billion in total assets under management, Binance said in the post.

m. m. EST) Sunday. The company said that each phase would include different groups of networks and assets and that it would share updates through its X channel. It also shared the information on a Deposit & Withdrawal Status page on its website.



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