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Binance Resumes Crypto Withdrawals After Record Hack, 95% of Losses Covered

Binance Resumes Crypto Withdrawals After Record Hack, 95% of Losses Covered

Binance began restoring withdrawals on November 1, three days after a record $6.3 billion hack. Bitcoin was the first network to reopen as part of a controlled rollout.

Meanwhile, the exchange says it has already covered about 95% of the stolen funds from its own reserves.

How Binance Is Restoring Withdrawals After the Hack

A phased withdrawal rollout reopens transfers network by network instead of all at once. This approach lets an exchange run security checks before each asset goes live.

Binance shared the rollout in several updates on November 1.

More assets and networks will open progressively after the remaining checks. However, users may face temporary delays because of high…

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