Binance picks Bitcoin network for first batch of withdrawal reopenings after hack

The exchange is restoring withdrawals in phases after a breach it says drained approximately $6.3 billion from its hot wallets Binance is reopening withdrawals after a major security breach, and the first batch uses the Bitcoin network. That was the exchange’s short update as it began restoring access following an attack on October 29-30. The scale explains the caution. Approximately $6.3 billion in digital assets was taken from Binance’s hot wallets, a figure that puts the incident on record as the largest exchange hack ever. How the reopening works Binance announced the phased resumption on November 1, 2026. Phase one went live between 06:00 and 09:00 UTC that day. Bitcoin is not alone in the opening group. The BTC network reopened alongside 14 other networks, for 15 in total during this first phase. Binance said it chose the order using recent user demand data. The networks people were most eager to withdraw from got priority. Later phases are expected to follow, but only after additional security checks. Binance has not presented the full rollout as a single switch being flipped back on. Deposits stayed open the entire time. Withdrawals were the only side of the ledger frozen, ...