Binance reopened cryptocurrency withdrawals in phases beginning at 06:00 UTC on November 1, 2026, and said that by 12:36 UTC all 15 networks and assets in its first phase were back online. In an afternoon status post, the exchange attached hard numbers to the restart: between 06:00 and 15:30 UTC it processed $4.649 billion in withdrawals against $1.01 billion in deposits, a net outflow of about $3.64 billion. As of November 1, that is 2.1% of the $171 billion Binance reports in total assets under management.
The reopening follows a security incident the exchange has tied to a theft it values near $6 billion, and which it says it has already covered in full. Earlier in the day Binance thanked the FBI Cyber Branch for its support during the response.
A staged reopening, network by network
The restart ran chain by chain rather than all at once. Bitcoin came first, followed by Ethereum and BNB Smart Chain, then XRP and Base. Binance later re-enabled Optimism, Arbitrum, Tron, Solana and Dogecoin, and added Polygon and Avalanche-C by late morning. The exchange said it would keep restoring remaining assets and networks in phases "as security checks are completed," and that its team was still testing the rest.
A $3.64 billion net outflow, and no run
For a platform reopening the doors after a nine-figure theft, the size of the outflow is the story. A $3.64 billion net withdrawal sounds large in isolation, but against $171 billion in reserves it is a 2.1% drawdown, not the kind of exit that forces a second freeze. Binance said withdrawal volumes spiked at the open, then declined and began stabilizing, while deposits stayed substantial. In plain terms, users tested the exit, most stayed, and the feared run did not arrive.
The proof-of-reserves refresh
The 2.1% figure rests on proof-of-reserves data dated October 28, 2026. Binance said it took a fresh snapshot at 00:00 UTC on October 31 and started the zero-knowledge-proof computation, with the updated report due the next day. As part of the security response it also rotated the list of addresses behind its proof-of-reserves system. That refresh matters more than usual here: after a theft of this scale, the proof-of-reserves report is how users check that customer balances are still backed one for one rather than taking the exchange's word for it.
The lesson for exchange-funded cards
The freeze is a reminder for anyone who spends from an exchange balance. A card that draws on a Binance wallet can only move what the account can move. When an exchange gates transfers, any spending power attached to that balance is gated with it, whatever card network sits behind it. That is the counterparty risk built into every custodial setup, and it is the main argument for cards that spend directly from a wallet you hold the keys to. Binance sits at one end of that tradeoff with the Binance Card; cards that spend from your own wallet sit at the other.
Overview
Binance restored withdrawals across 15 networks on November 1, 2026, and reported a net outflow of about $3.64 billion, roughly 2.1% of its $171 billion in reserves, in the first ten hours. The exchange has covered the roughly $6 billion loss from the underlying breach, is still restoring the remaining networks in phases, and has a refreshed proof-of-reserves report due. For cardholders, the episode is less about Binance specifically and more about the rule it illustrates: funds you cannot move are funds you cannot spend.
