Binance Reopens Withdrawals for 62 Tokens as Recovery Hits 98% After the $6.3B Hack

On November 5, Binance began reopening withdrawals for 62 tokens across six networks — 69 network-asset pairs in total — starting at 04:00 UTC. It is the next big step in the exchange's recovery from the $6.3 billion hack on October 29, and the first time since the attack that large numbers of customers can move their funds off the exchange again in an orderly, phased way.

Access returns in stages rather than all at once, and deposit services remain open throughout. Binance said it ranked assets by user demand over the past week, and each pair is restored only after security and readiness checks are complete — so some listed tokens may not be available at 04:00 UTC even though they appear in the announcement. The exchange warned that traffic during the rollout may cause processing delays, and users whose withdrawal fails are advised to retry after a short interval.

The network-by-network breakdown

The ETH network carries the largest share of the reopening, with 36 assets, including UNI, AAVE, PAXG, MORPHO, EIGEN, LDO and ENS. BSC follows with 24, among them ASTER, FIL, INJ and AVAX. Base adds four, TRON adds three, Polygon adds one and Sui adds one. Seven tokens appear on more than one network: AAVE, FLOKI, HYPER, MORPHO, SAND, UNI and VIRTUAL.

For traders, the practical point is simple: check the withdrawal page for each asset and network, or Binance's network status page, before assuming a token is available. A token on the list is not the same as a token that is live right now.

Recovery is 98% complete — but the last 2% is the hard part

The reopening follows Recovery Update #7, published November 4, which put replenishment at about 98% of affected assets, up from 95% two days earlier. Binance is buying the remaining assets through market and over-the-counter channels, and said the final 2% will take longer because those tokens are less liquid. The company is covering all losses from its own resources and has set aside more than 100% of the funds required. A new Proof of Reserves snapshot taken at 00:00 UTC on November 4 covers 44 tokens, up from 10.

The numbers behind the recovery, at a glance: 62 tokens and 69 pairs — withdrawals reopening from Nov 5, 04:00 UTC, across six networks; 98% — affected assets replenished as of Recovery Update #7 (Nov 4); 44 tokens — covered by the new Proof of Reserves snapshot, up from 10; $5.6B — net customer withdrawals since withdrawals were restored, about 3.5% of Binance's assets; $157B — Binance's total assets as of Monday, per the company.

The money that left — and the money coming back

The flows tell the story in hard numbers. The platform restored withdrawals on Sunday, and customers have since pulled a net $5.6 billion — about 3.5% of Binance's total assets, according to a spokesperson. As of Monday, Binance held $157 billion in assets, the spokesperson said, citing internal estimates that factor in the hack, subsequent withdrawals and price fluctuations.

But the bleeding appears to be slowing. "By around 3:00 UTC on Nov 3, hourly deposits began exceeding hourly withdrawals, reflecting improving user activity and a normalisation of flows," the spokesperson said. In other words, the net outflow wave has turned — at least for now — and the phased reopening is happening into a market that is already calming down.

The share Binance lost — and whether it comes back

The reopening does not erase the competitive cost of the hack. New data from analytics firm Kaiko shows Binance's slice of spot trading across the market's top-10 platforms has fallen to its lowest level in at least 12 weeks, while rivals OKX, Coinbase and Kraken have all picked up ground in the week since the attack. Over the past seven days, Binance accounted for about 42% of spot trading volume on the top-10 platforms, down from around 48% before the hack and roughly 51% in mid-August. OKX was the biggest winner: its share rose to about 14% from about 11% the prior week, helped by higher spot trading volume. Coinbase grew to 9.6% from about 9%, and Kraken also increased its share in the same period. We covered that market-share shift in detail in our earlier report on Binance's falling market share.

The shift matters because exchange market share is sticky. Traders who move their funds and their order flow to a rival during a crisis do not always move back when the crisis ends — and Binance knows it. The exchange suspended withdrawals after the October 29 theft, which the US Federal Bureau of Investigation has attributed to North Korean hackers, a charge the country denies. Blockchain analytics firm Elliptic said its analysis "supports the FBI's attribution specifically to the North Korean state-linked group TraderTraitor."

What this means for traders

For traders, the practical takeaway is threefold. First, withdrawals are coming back in phases — check each asset and network before assuming it is available. Second, the market-share data shows the hack had a real competitive cost: OKX and Coinbase gained measurable ground in a single week, and that ground is not automatically returned. Third, the flow data is improving — deposits overtaking withdrawals on November 3 is the first concrete sign that the panic phase is ending.

The exchange story is far from over. Binance's new listing board has been quiet since October 29 — no new spot coin has been added since PREDICT opened on October 30 — while rivals move prices with their own announcements. Just this week, Coinbase put CARDS on its roadmap of coins to add and the token jumped more than 21% within hours, a reminder of how much an exchange slot still moves a price. Readers following that listing-board story can catch up on our earlier coverage of the quiet Binance listing board and our report on how US regulators checked banks after the $6.3B Binance hack. The bigger question now is whether Binance can win back the share it lost — or whether the hack permanently reshuffles the exchange leaderboard. The next Kaiko weekly print will tell. Until then, the safest move for any trader is the boring one: keep only trading funds on an exchange, keep the rest in a wallet you control, and never assume a big name is too big to be hit. For the full official details of the phased reopening, see Binance's own announcement.

FAQ

Are Binance withdrawals fully open again? Not yet. From November 5 at 04:00 UTC, withdrawals for 62 tokens (69 network-asset pairs) across six networks began reopening in phases, each pair restored only after security and readiness checks. More assets will be added as they become ready.

How much money left Binance after the hack? Customers pulled a net $5.6 billion — about 3.5% of the exchange's total assets — after withdrawals were restored on Sunday. Binance said it held $157 billion in assets as of Monday.

Is Binance covering the losses? Yes. The company says it is covering all losses from its own resources, has set aside more than 100% of the funds required, and has replenished about 98% of affected assets as of Recovery Update #7 on November 4.

Why did Binance lose market share after the hack? Because withdrawals were suspended after the October 29 theft, traders moved funds and trading activity to rivals. Kaiko data shows Binance's top-10 spot share fell to about 42% over the past seven days, from about 48% before the hack, while OKX rose to about 14% and Coinbase to 9.6%.

Who was behind the hack? The FBI has attributed the October 29 theft to North Korean hackers, and blockchain analytics firm Elliptic said its analysis supports the attribution to the North Korean state-linked group TraderTraitor. North Korea denies the charge.

This is market news and general information only, not financial advice. Follow the exchange recovery and the rest of the market on the Zimbuck News page and in the Zimbuck Market News group, and join the conversation on Zimbuck — the finance social platform for traders and investors.