Binance Reopens 87 Crypto Networks After $6.3B Hack, Targets Full Withdrawals Next Week - Coinpaper
Binance has restored cryptocurrency withdrawals across 87 blockchain networks following its $6.3 billion security breach, with full access expected by next week.
The latest reopening covers networks including Aptos, Hyperliquid, Cardano, Avalanche, Stellar, Near Protocol, Litecoin and Filecoin. The exchange aims to restore withdrawals for all remaining networks and assets by the end of next week, though some transactions may experience delays during the rollout.
Gradual Network Restoration
The latest phase significantly expands withdrawal access beyond the initial network restoration that began November 1. Binance initially prioritized major assets including Bitcoin, Ethereum, BNB, Solana and XRP before gradually extending services to smaller networks.
The new list includes HYPE, ADA, AVAX, XLM, NEAR, ATOM, TIA, ICP, FIL, APT and dozens of others. However, reopening a network does not necessarily mean every associated asset and withdrawal route is fully operational.
Asset Replacement Complete
Operational recovery comes alongside Binance's announcement that it has completed replacing the assets affected by the October 29 attack. On November 12, Binance confirmed it had committed more than $6.34 billion from company-controlled funding sources.
The company also published a new proof-of-reserves snapshot covering 198 cryptocurrencies, with zero-knowledge verification intended to demonstrate at least 1:1 backing for customer balances.
Trust Still a Challenge
Despite the latest progress, restoring withdrawal functionality does not automatically resolve concerns about exchange security. Binance experienced significant customer outflows immediately after withdrawals resumed, highlighting the difference between restoring account balances and rebuilding customer trust.
The breach initially involved approximately $296 million in stolen XRP before expanding into a wider multichain attack. Investigators subsequently tracked approximately $101 million in XRP moving between addresses linked to the breach.
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