TLDR
- Binance begins a second phase of withdrawals from 04:00 UTC on Tuesday.
- Net outflows fell to $2.57 billion on Monday from $6.1 billion on Sunday, DefiLlama data shows.
- Binance warns of scams offering paid priority, compensation claims or a “Binance vault.”
- Asset replenishment reached about 95% on Nov. 1, with the least liquid tokens left.
- A proof of reserves covers 10 tokens, with a new snapshot planned for Nov. 4.
Binance plans to start a second phase of cryptocurrency withdrawals on Tuesday. The exchange says more assets will become available from 04:00 UTC as security checks are completed. The move follows last week’s $6.3 billion hack.
— Binance (@binance) November 3, 2026
The first phase began on Nov. 1. Binance said the second phase will also roll out step by step across assets. It said it is prioritizing tokens based on user demand over the past week.
Deposits remain available. The second phase covers networks including Binance Smart Chain, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base.
Outflows slow
Data from DefiLlama shows outflows from the exchange have slowed since Sunday. Net outflows were $2.57 billion on Monday, compared with $6.1 billion the day before.
On Nov. 1, Binance reopened withdrawals across 15 networks. Between 06:00 and 15:30 UTC that day, it processed $4.649 billion in withdrawals against $1.01 billion in deposits. Net outflows totaled about $3.64 billion.
On Monday, Binance also reopened withdrawals for several fiat currencies. These include the US dollar, United Arab Emirates dirham, Vietnamese dong, Philippine peso and Indonesian rupiah. They join 23 other currencies already available.
Scam warning
Binance warned that scammers may use the phased reopening to target users. In an alert posted on X on Nov. 2, it said fraudsters may pose as the exchange. They may offer to “speed up withdrawals,” give “priority processing,” help users “claim compensation” or move assets to a “Binance vault.”
Security Reminder: Stay Alert to Scams as Withdrawals Resume
Withdrawals are resuming in phases and opportunistic scammers may try to take advantage of this period. They may impersonate Binance through DMs, emails, group chats and even small transfers with a message attached,…
— Binance (@binance) November 2, 2026
Binance said anyone who promises to expedite the process for a fee is trying to scam users. It said it will never sell places in withdrawal queues. It also said it will not charge to unlock a network or asset.
The exchange said scammers may contact people through direct messages, emails and group chats. They may also send small transfers with an attached message. Binance said it will not ask for passwords, two-factor authentication codes or seed phrases.
The company also warned about requests to connect a wallet or sign a transaction. It said these approvals can let third parties move assets. It added that blockchain transactions are generally irreversible.
The Federal Trade Commission has separately warned about refund and recovery scams. It said scammers impersonate organizations and ask for upfront payments or financial information. Binance rejected paid asset recovery services.
Binance said customers with pending withdrawals should check their account in the app. Anyone worried about account security should change passwords and review settings. They can also contact in-app support.
Binance has also released a cryptographic proof of reserves. It covers a snapshot taken at 00:00 UTC on Oct. 31. Holders of BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC can check that balances were backed at least 1:1.
The check confirms backing without showing individual customer balances. Users log in on the official Binance website and download an open-source verifier. They run it on their own computer.
Binance said it will bear the financial impact of the stolen funds, not its users. Company-funded asset replenishment reached 90% on Oct. 31 and about 95% on Nov. 1. The least liquid tokens make up the remaining 5%, with industry partners helping to provide replacements.
Binance plans a more complete reserves snapshot for Nov. 4. It expects a 40 to 50 hour period to produce the proof.
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