UPDATE: Binance to resume withdrawals on November 1 after $6.34B exploit
CIE News ·
Update to UPDATE: Binance $6.4B hack traced to North Korea after signing breach
Confirmed by official primary sources.
Binance announced withdrawals will resume between 06:00 and 09:00 UTC on November 1, 2026, following a $6.34 billion exploit. Deposits remained unaffected, and the exchange will absorb all losses.
Binance has scheduled the resumption of user withdrawals for November 1, 2026, between 06:00 and 09:00 UTC, following the suspension prompted by an exploit on October 29. As previously reported, attackers drained roughly $6.4 billion from the platform hot wallets across around 10 blockchains. In Recovery Update #4, the exchange stated that user deposits remained operational and that it will fully absorb the financial losses from the incident.
The initial phase of withdrawal restoration covers major tokens and network pairs, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), BNB, TRON (TRX), Solana (SOL), and XRP. According to The Guardian, Binance has already replaced 90% of the stolen assets using company reserves, its Secure Asset Fund for Users, and its Futures Insurance Fund.
Authorities, including the FBI, TRM Labs, and Chainalysis, attributed the attack to the North Korean state-linked cyber group TraderTraitor. CEO Richard Teng stated that the exploit targeted Binance's signing infrastructure using EIP-7702 sweeper delegations rather than a core protocol flaw on the underlying blockchains.
Key facts
- Withdrawals resume Nov 1, 06:00 UTC
- $6.34B stolen in Oct 29 exploit
- Deposits remained unaffected
- Binance to cover 100% of losses