Binance Starts Second Withdrawal Phase After Record Hack

Binance Resumes Second Phase of Crypto Withdrawals Following Security Checks

Binance is set to commence a second phase of cryptocurrency withdrawals on Tuesday, following a significant security incident last week that saw $6.3 billion in assets compromised.

The cryptocurrency exchange announced that withdrawals for additional assets will become available progressively starting at 04:00 UTC on Tuesday, as security and readiness checks are finalized. This follows an initial reopening of withdrawal services on November 1.

“Like phase one, reopening will roll out progressively across the assets as security and readiness checks are completed,” Binance stated in its latest recovery notice. The exchange indicated that it is prioritizing tokens based on user demand observed over the past week. Deposits for all assets remain available.

According to Binance, the networks included in this second phase of withdrawal resumption are Binance Smart Chain, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron, and Base. This move comes amid reports of substantial net outflows from the exchange, with one analysis indicating a surge to $5.8 billion as withdrawals initially resumed after the record hack.