Binance to Gradually Resume Withdrawals on Nov. 1 Afternoon After Security Checks

What happened

Binance suspended withdrawals after a major hack and said it will begin restoring the service in stages on Nov. 1, with the first phase planned between 3 p.m. and 6 p.m. Korea time, starting with functions confirmed as safe.

Confirmed

Global impact / market context

Customers regain access to their funds only gradually, so people needing cash or wanting to move coins must wait. Binance saying it, not users, will bear losses from stolen funds reduces the direct financial hit to customers.

Analyst inference

A phased return of withdrawals signals Binance is still checking systems after the hack, which may keep some users cautious about holding coins there. Deposits kept working, so the disruption is mainly about getting money out, not putting it in.

Analyst inference

What to watch

1. Binance will resume withdrawals sequentially once it completes checks on security and operational readiness, so the first phase between 3 p.m. and 6 p.m. Korea time may not restore every withdrawal function immediately. Confirmed
2. Watch whether Binance extends the staged schedule beyond Nov. 1 if checks uncover problems, because a delay would lengthen the time customers cannot move their coins off the exchange. Proposed
3. Track whether large numbers of users rush to withdraw once access returns, which could strain exchange systems and test Binance's promise that customer assets remain secure during the recovery. Analyst inference

Evidence

• en.bloomingbit.io