Binance has begun restoring crypto withdrawals after a major incident that followed the exchange’s suspension of withdrawals on Thursday. The restart is being rolled out in phases, with the first phase now including access to Bitcoin withdrawals.
In a post on X, Binance said that the “first batch network” has been opened under phase one of its withdrawal resumption plan. The company advised users to verify the availability of their chosen asset and network before submitting requests.
Key takeaways
- Binance has reopened withdrawal access for Bitcoin in phase one, marking the first step toward restoring full withdrawal functionality after the hack.
- Withdrawal services are being restored progressively by network and asset pair, with stability and security checks completed before reopening.
- Binance cautioned that users may encounter congestion, longer processing times, or temporary delays during the phased rollout.
- Users are instructed to confirm whether their selected asset and network is currently available via the withdrawal page or Binance’s network status page.
Phase one withdrawals resume with Bitcoin network access
Binance confirmed on X that its withdrawal restoration plan has reached phase one for the Bitcoin network. The exchange’s update indicated that a first batch of networks has been opened, signaling the beginning of a broader, step-by-step return to withdrawals.
Earlier on Sunday, Binance had already outlined that withdrawals would be reinstated in phases. According to the exchange, it would prioritize tokens based on recent data about user demand, so that each network and relevant asset pairing could be restored carefully rather than all at once.
Why Binance is restoring withdrawals gradually
Binance said it is taking a phased approach to “prioritizing tokens based on the past week data of user demand,” with an emphasis on restoring networks while checks are completed before access is reopened. The exchange framed the strategy as a way to maintain stability and security during the return to normal operations.
Operationally, that means users should expect network-by-network variations in availability. Even after the first networks come back online, other assets and networks may remain restricted until Binance completes the next stages of its rollout.
What users should do during the phased restart
Binance told users to check the withdrawal page for the specific asset and network they intend to use. It also pointed customers to its network status page to verify whether a given route is currently available.
The exchange further warned that the phased restart could cause friction. Binance said it is possible to see congestion, longer processing times, and temporary delays. If a withdrawal does not go through successfully, Binance advised users to try again after a short interval.
Hack fallout and Binance’s progress toward restoring assets
Binance suspended withdrawals after the Thursday attack, which the FBI attributed to North Korean operatives, according to earlier reporting. In the days since, attention has focused on how much of the stolen funds the exchange could recover or replenish.
Cointelegraph reported on Saturday that Binance said it had replenished 90% of the assets stolen in the hack, an increase from 80% a day earlier. That report also indicated Binance expected to resume withdrawals Sunday, aligning with the exchange’s phased plan and the current phase-one opening for Bitcoin withdrawals.
Earlier coverage from Cointelegraph noted Binance said it had replenished 90% of the stolen assets and was on track to resume withdrawals Sunday.
As Binance restarts withdrawals in stages, the most practical question for users is not only when withdrawals return, but when a specific asset and network becomes available for submission. The current update shows that at least some networks are back, but the exchange’s own language suggests more networks are expected to follow in subsequent phases.
Readers should watch Binance’s official X updates and network status page for each new batch of reopened networks, especially if they rely on less common chains or specific withdrawal routes that may not be included in the earliest phase.
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