Binance Resumes Bitcoin and Ether Withdrawals After $6.3…
By Abdelaziz Fathi
AI summary of the source article
Binance began restoring cryptocurrency withdrawals across 15 blockchain networks following an estimated $6.36 billion security breach on October 29. The exchange stated it has replenished approximately 95% of affected assets using internal resources to absorb the losses.
Why it matters
Longer-term confidence will depend on verifiable reserves, completed asset replenishment and evidence that the exploited infrastructure has been secured.
Key facts
- Attackers compromised Binance hot wallets on October 29, resulting in an estimated $6.36 billion theft of cryptocurrency assets.
- Withdrawals resumed on November 1 across 15 networks for major assets including bitcoin, ether, and stablecoins.
- Binance reported replenishing about 95% of affected assets via its Secure Asset Fund for Users, corporate treasury, and internal resources.
Source excerpt · FinanceFeeds
Binance began restoring cryptocurrency withdrawals on November 1, three days after a $6.3 billion security breach forced the exchange to suspend transfers across multiple blockchains. Bitcoin withdrawals were among the first services restored, followed by ether, stablecoins and other major assets, as the company reported replenishing approximately 95% of the affected holdings. The first withdrawal…