What is happening with withdrawals?
Binance said it paused withdrawals while investigating the security incident and said deposits were operating normally in its update. A CoinDesk report published October 30 at 12:31 p.m. Eastern time said the company was rebuilding and testing withdrawal infrastructure and targeting Sunday for a restart. That is a plan, not proof that withdrawals have resumed. Check the latest official notice for the service and region you use; Binance.com and Binance.US are separate services.
What is known about the funds?
Binance estimated that approximately $6.3 billion in assets was affected and said it had worked with industry partners to freeze around $3 billion on-chain. The exchange said it would cover losses using its security fund and company resources. Frozen assets are not automatically recovered; a promise to cover losses is not confirmation that every user has been reimbursed.
CoinDesk reported that some affected wallets had previously appeared in Binance's disclosures of assets backing customer balances. The precise effect on customer assets and the practical outcome of the promised coverage remain open questions.
What remains under investigation?
Binance initially said the incident may have involved a compromised employee laptop, and later said it had found additional points of breach. It said it found no evidence of a wallet private-key leak. According to the Associated Press, blockchain investigators attributed the attack to a North Korean group, while Binance said it was working with law enforcement to confirm the perpetrators. Attribution remains an investigators' assessment, not a confirmed law-enforcement finding.
Check for impersonation attempts
Security incidents can attract fake support and recovery offers. Open the official app or a bookmarked official site instead of following unexpected messages. Never share your password, recovery phrase or private keys with a purported support agent. Binance provides guidance on impersonation risks. Neither an unexpected message nor a paid recovery offer establishes that it can help.
Self-custody introduces its own recovery and key-management risks; transferring assets is not a guarantee against loss. For older coverage, visit the BitByteDaily archive and check each article's publication and review dates.
Questions and answers
Were Binance withdrawals restored?
The latest report cited here described a Sunday restart as a target, not a confirmed resumption. Check the latest official service notice for your account and region.
Were the frozen assets recovered?
Not necessarily. An on-chain freeze can restrict movement; it does not by itself mean the assets were returned to Binance or users.
Will Binance cover user losses?
Binance says it will cover losses with its security fund and company resources. That promise is not independent confirmation that every affected user has been reimbursed.
Was a private key stolen?
Binance said it had found no evidence of a wallet private-key leak. The investigation was continuing; that statement is not proof of the complete attack path.
How can users avoid fake recovery offers?
Use the official app or a bookmarked official website. Do not share a password, recovery phrase or private keys with someone claiming to offer support or recovery.
Sources and update notes
Last checked 30 October 2026 at 20:11 UTC. Binance figures and commitments are company statements, and service status can change. No account, withdrawal or reimbursement was tested.
Explore the BitByteDaily archive or learn how we label historical coverage.