Binance sets phased withdrawal restart after $6.3B breach, per Mantle News

Phase one of Binance’s withdrawal restart is scheduled between 06:00 and 09:00 UTC on Sunday, November 1, following a security incident involving a $6.3 billion hot-wallet breach reported by Mantle News. The timeline and asset list come directly from Binance’s withdrawal-resumption advisory.

The first phase prioritizes networks and assets based on user-demand data from the past week: BTC$77,925.00▲0.77%, ETH$2,269.41▲1.15%, USDT$0.9996▲0.03%, BNB$705.98▲0.61%, SOL$95.61▼0.32%, USDC$1.00▲0.01%, XRP$1.25▲0.48%, ZEC, DOGE, TON, MATIC on Polygon, AVAXC, ARBITRUM, BASE, OP on Optimism, and SUI.

Deposits stayed open throughout and weren’t affected. Binance says it will eat the losses itself. “user funds remain safe. Binance will absorb the financial impact of the stolen funds, not our users,” the Binance Team wrote in the advisory. The exchange also added: “Restoring access to your funds is a priority, and we are taking a controlled approach to do so safely.”

Binance says asset coverage has moved from 90% to approximately 95% since the prior update. Binance says the outstanding 5% consists of tokens outside the top ten that are less liquid and take longer to source. All balances in BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are now described as fully backed at 100%.

Major balances are described as fully backed, yet services return only in phases, ordered by demand.

The new 95% claim, then, is five percentage points higher than that prior figure. The advisory doesn’t give a dollar value for what’s still outstanding.

Binance called the November 1 restart “a major milestone” while acknowledging its work continues. Whether the phased rollout proceeds without incident will determine how the stated coverage figures are received by users.