Binance Takes Another Step Toward Restoring Withdrawals: Four More Networks Reopened

According to Binance's latest announcement, BNB Smart Chain (BSC), Ethereum (ETH), Base, and Arbitrum are once again available for withdrawal transactions through Binance Alpha. The exchange continues to restore services gradually across networks where the necessary security checks have been completed. The latest announcement specifically highlighted the reopening of networks supporting Alpha withdrawals.

The development marks another stage in Binance's recovery efforts following the major security breach. In its official statement on October 30, the exchange confirmed that its hot wallets had been compromised, resulting in the theft of approximately $6.3 billion in cryptocurrency assets. Withdrawals were temporarily suspended as a precautionary security measure before gradually resuming on selected networks beginning November 1. Binance also pledged that users would not bear the financial burden of the losses.

Withdrawals Already Available for HYPE, APT, and Numerous Other Assets

Binance's November 9 announcement went beyond the newly reopened networks. The exchange also reiterated the list of assets whose withdrawal services had previously been restored. On the Ethereum network, withdrawals are available for several stablecoins, including Ripple's RLUSD, USD1, TUSD, FDUSD, and XUSD. Other supported assets include ENA, USDE, PENDLE, WLD, ONDO, LINK, ETHFI, SHIB, BLUR, and JASMY.

Meanwhile, withdrawal services had already been restored for numerous cryptocurrencies on the Solana network, including PUMP, RENDER, RAY, TRUMP, PENGU, JUP, PYTH, BONK, WIF, and BOME. Binance also confirmed that withdrawals remain available for Hyperliquid's HYPE and Aptos's APT tokens. The restoration of services for these two assets was also reflected in a Binance announcement published on November 8.

Security Checks Remain Ongoing

Rather than reopening withdrawal services across all networks and assets simultaneously, Binance has adopted a phased approach. According to the company's statement, withdrawal functionality is restored for individual networks and cryptocurrencies once the necessary security assessments have been completed. As a result, the reopening of a particular blockchain network does not necessarily mean that every token operating on that network is available for withdrawal.

The exchange emphasized that work continues on assets that have not yet been re-enabled, adding that further updates will be communicated through its official channels. Users are advised to verify the withdrawal status of both their selected token and the corresponding blockchain network before initiating transactions.

Kriptofoni Assessment

Binance's decision to restore withdrawal functionality across four additional networks within Alpha suggests that its operational recovery efforts are progressing following the security breach. In particular, reopening Alpha withdrawals on widely used networks such as Ethereum, BSC, Base, and Arbitrum represents a positive development for users seeking to transfer their cryptocurrency holdings.

Nevertheless, expanding withdrawal services does not mean that all consequences of the security breach have been resolved. For Binance, the key challenge is not simply restarting transactions but also removing the remaining restrictions and maintaining transparency regarding the results of its security investigations. The exchange's ability to complete these steps will be critical to rebuilding user confidence.