Binance to resume withdrawals in phases within the next few hours for the first time after major hack

The exchange will restart withdrawals after a $6.3bn hack that led Tether to freeze $971m USDT linked to the breach.

By Akshat Mishra, YourKhabri DeskNov 1, 2026, 04:26 AM UTC1 min readBinancewithdrawalshackcrypto exchange

Photo: Binance, CC BY 4.0, via Wikimedia Commons

Key takeaways

1$6.3bn hack cost to Binance
2$971m USDT frozen by Tether

Binance said it will restart user withdrawals in phases within the next few hours, marking the first time the platform has resumed withdrawals since the multi‑billion‑dollar hack that halted the service.

The hack, reported on 29 October, cost roughly $6.3 billion and prompted Tether to freeze $971 million of USDT linked to the breach. Binance confirmed it is cooperating with the FBI and the U.S. Secret Service as investigations continue.

Binance, the world’s largest crypto exchange by volume, was founded by Changpeng Zhao. The platform processes billions of dollars daily and its outage affected users globally. YourKhabri’s earlier coverage noted the scale of the loss and the regulatory scrutiny following the incident.

Resuming withdrawals suggests Binance is moving to restore normal operations and may ease concerns among traders. Market participants will watch for further updates on the investigation and any additional security measures. The next step is monitoring whether the service remains stable and if regulators issue new guidance.

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Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.