PiCK
Binance to Gradually Resume Withdrawals on Nov. 1 Afternoon After Security Checks
Summary
- Global cryptocurrency exchange Binance said it will resume withdrawal services in an initial phase on the afternoon of Nov. 1 after a major hack.
- Binance said it will restore withdrawal services in stages after a security review and ongoing system monitoring, starting with functions confirmed to be safe.
- Deposit services are operating normally, and Binance said asset protection remains intact and that it will bear all financial losses caused by the stolen funds.
Forecast Trend Report by Period
Binance, the global cryptocurrency exchange that suspended withdrawals after a major hack, will begin restoring the service in stages on Nov. 1.
According to an official notice from Binance on Nov. 1, the exchange plans to resume the first phase of withdrawals between 3 p.m. and 6 p.m. Korea time that day.
Binance said it has taken precautionary steps to protect the platform since the hack, while conducting security assessments and checking whether affected services can safely return to normal operations. Withdrawal services will be restored sequentially once the exchange completes its checks on security and operational readiness.
Still, not all withdrawal functions will return immediately. Binance will continue monitoring its systems during the recovery process and resume operations in stages, starting with functions that have been confirmed as safe.
Deposit services were not affected by the hack and continue to operate as usual. Binance said it recognizes the inconvenience caused by the suspension of withdrawals and is treating the restoration of access to customer assets as its top priority.
Binance said customer assets remain secure and that the exchange, not its users, will bear all financial losses resulting from the stolen funds.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.