Binance Expands Withdrawal Access on November 3
Binance has started a second phase of cryptocurrency withdrawal services following the $6.3 billion security breach that disrupted the exchange last week. The latest reopening began at 04:00 UTC on November 3, with additional assets becoming available progressively as the platform completes security and operational checks.
The rollout follows the first phase, which began on November 1. Binance said the restoration process would follow the same gradual approach, meaning not every supported asset would become available at the same time. The exchange is prioritizing tokens based on user demand over the previous week.
Networks included in the second phase cover BNB Smart Chain (BSC), Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base. Users can check the official Binance recovery announcement for the assets included in the reopening and their withdrawal status. Deposits remain available during the process.
Fiat Withdrawals Also Reopen for More Currencies
The crypto withdrawal expansion follows Binance's decision to restore withdrawals for several fiat currencies on Monday. The currencies named in the update include the US dollar, United Arab Emirates dirham, Vietnamese dong, Philippine peso and Indonesian rupiah.
These additions expand access alongside 23 other fiat currencies that were already available for withdrawal. The separate fiat reopening forms part of the exchange's broader effort to restore services following the security incident.
Binance continues to direct users to its official channels for service updates. Availability can vary by asset, network and currency, so users should check the relevant withdrawal page before initiating a transaction.
Binance Exchange Outflows Show Signs of Slowing
Exchange-flow data also points to a reduction in net outflows after the initial withdrawal surge. Figures from DefiLlama's Binance exchange dashboard show net outflows of approximately $2.57 billion on Monday, compared with $6.1 billion on Sunday.
The figures indicate that the pace of funds leaving Binance had eased during the period covered by the data. However, exchange wallet movements do not always represent customer withdrawals alone, so on-chain flow estimates should be interpreted with that limitation in mind.
The withdrawal restoration remains an important part of Binance's response to the breach. The exchange is reopening access in stages rather than enabling every asset and network simultaneously.
Binance Warns Users About Withdrawal-Related Scams
Binance has also warned customers about scams that may take advantage of the phased reopening. Fraudsters could impersonate the exchange and offer faster withdrawals, priority processing for a fee, assistance with compensation claims or instructions to transfer funds into a supposed “Binance vault.”
The exchange stressed that anyone promising to speed up withdrawals in exchange for payment is attempting to scam users. Customers should rely on Binance's official website and verified communication channels rather than unsolicited messages or third-party offers.
Binance's official security warning and withdrawal phase update provide further information. Users should avoid sharing account credentials, passwords or verification codes with anyone claiming to provide recovery assistance.
The second withdrawal phase marks another step in restoring Binance services after the security breach. The process remains dependent on security and readiness checks, while the reported decline in exchange outflows offers an indication that the initial wave of withdrawals has eased.
