Binance Opens Second Withdrawal Phase After Record $6.3 Billion Hack
Binance has reported roughly $3.64 billion in net outflows since resuming withdrawals following an October 29 breach described as the largest crypto exploit on record.
AfroEuropa Newsroom
AfroEuropa desk
Binance has started a second phase of withdrawals as it works to restore full access to customer funds after a major security breach. According to Cointelegraph, the exchange said further assets would be available for withdrawal from 04:00 UTC on Tuesday as security checks were finalised, following an initial reopening on Sunday.
The breach took place on October 29, 2026, and resulted in the theft of around $6.3 billion in cryptocurrency, according to BitKE, which described it as the largest crypto exploit in history.
After withdrawals resumed on November 1, 2026, Binance processed $4.65 billion in withdrawals against $1.01 billion in deposits, producing net outflows of about $3.64 billion, BitKE reported. The exchange said that figure represented 2.1% of its $171 billion in assets under management, and that withdrawal volumes spiked at first before stabilising.
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