Binance picks Bitcoin network for first batch of withdrawal reopenings after hack

What happened

Binance began reopening withdrawals on November 1, 2026, after an October 29-30 attack took about $6.3 billion in digital assets from its hot wallets. The first phase used the Bitcoin network plus 14 others, for 15 total.

Confirmed

Global impact / market context

Withdrawals were frozen right after the breach, so this partial reopening shows users are regaining access to their funds. Binance says balances are whole and that it refilled 90-95% of stolen assets with company funds, but later phases depend on more security checks.

Analyst inference

The $6.3 billion loss is described as the largest exchange hack ever, a scale that can sway how investors view the safety of keeping coins on exchanges. Bitcoin's network being in the first group reflects recent user withdrawal demand data Binance cited.

Analyst inference

What to watch

1. Binance said it chose the order using recent user demand data, so networks users most wanted to withdraw from got priority in the first phase. Confirmed
2. Later phases are expected to follow, but only after additional security checks. Watch whether Binance announces a timetable and which networks enter each next batch. Proposed
3. Watch whether Binance publishes proof that remaining stolen assets are fully replaced, since it reported refilling about 90-95% and says user balances are whole. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• cryptobriefing.com