Binance Says It Replaced 95% of Stolen Crypto for Users
Binance began restoring withdrawals in phases Sunday (Nov. 1) at 06:00 UTC (1 a.m. EST), and by about 6½ hours later resumed withdrawals for the 15 networks and assets in the first phase, the company said in a post on X. Binance had paused withdrawals after h…
Binance, the world's largest cryptocurrency exchange, has made significant strides in restoring user funds following a recent security incident. The exchange announced that it has successfully replaced 95% of the stolen cryptocurrency, demonstrating its commitment to user trust and security.
The incident, which occurred on October 31, 2025, led to a temporary pause in withdrawals as Binance investigated the breach. The exchange's rapid response and phased restoration of services have been well-received by the community. By November 1, 2026, Binance had resumed withdrawals for the first phase of networks and assets, marking a crucial step towards normal operations.
This incident underscores the importance of robust security measures in the cryptocurrency industry. Binance's proactive approach in addressing the issue and compensating affected users sets a high standard for other exchanges. The company's transparency and commitment to resolving the issue promptly have earned praise from both users and industry observers.
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