Binance Reopens Bitcoin, Ether Withdrawals After Hack Coverage

Binance has resumed bitcoin and ether withdrawals after the exchange covered the bulk of the $6.3 billion that was stolen, according to a report from Investing.com. Reopening the two largest cryptocurrency networks marks a step back toward normal operations following a disruption that had left customers unable to move funds.

Withdrawals had been halted while the company worked to fill the shortfall left by the theft. Binance's ability to cover most of the amount before restoring access suggests the exchange drew on its own resources, including reserve funds, rather than waiting on any recovered assets.

For users, the episode puts renewed attention on how large trading venues safeguard customer balances and how quickly they can absorb losses. Crypto exchanges have faced repeated scrutiny over the transparency of their reserves, and many now publish periodic snapshots of holdings to reassure depositors.

The report did not specify how much of the loss remains uncovered, which assets might still face restrictions, or when all services would return to normal. Market participants will be watching whether deposit and withdrawal limits are lifted fully and whether the incident prompts further questions from regulators about custody and risk controls.