Binance has restored cryptocurrency withdrawals across 15 blockchain networks following a major security incident involving more than $6 billion in stolen digital assets. Binance founder and former CEO Changpeng Zhao thanked the U.S. Secret Service and cooperating federal agencies for their rapid response, which reportedly helped track and freeze a significant portion of the stolen funds.
The investigation involves multiple U.S. authorities, including the Federal Bureau of Investigation (FBI), the Internal Revenue Service Criminal Investigation division (IRS-CI), and the Department of Justice (DOJ). The theft has been attributed to North Korea, although investigations into the incident remain ongoing.
Zhao acknowledged the agencies’ efforts, highlighting their ability to identify and freeze a substantial amount of the stolen cryptocurrency within minutes of the incident on Thursday. The FBI has also published a list of cryptocurrency addresses associated with the investigation to support efforts to track the movement of the affected assets.
The rapid intervention by U.S. law enforcement agencies represents a significant development in recovering the stolen cryptocurrency, with authorities continuing efforts to trace the remaining funds and investigate those responsible.
Binance Resumes Withdrawals Across 15 Networks
Following the security incident, Binance temporarily restricted withdrawals while addressing the situation and coordinating the necessary operational measures.
The exchange began restoring withdrawal services in phases at 06:00 UTC on November 1, 2026. By 12:36 UTC, withdrawals had resumed across all 15 blockchain networks and supported assets included in the initial restoration phase.
The temporary restrictions prompted considerable withdrawal activity as users moved funds from the exchange. During the reported period, Binance processed approximately $4.649 billion in withdrawals, while deposits totaled around $1.01 billion.
This resulted in a net outflow of approximately $3.64 billion from the exchange.
Despite the substantial withdrawals, the reported outflow represented approximately 2.1% of Binance’s $171 billion in assets under management, based on its October 28 Proof of Reserves snapshot.
The figures indicate that the exchange continued processing significant customer transactions during the incident, while progressively restoring access to withdrawal services across its supported networks.
Binance Updates Proof of Reserves Verification
Alongside the withdrawal restoration, Binance is preparing an updated Proof of Reserves (PoR) report to provide additional information about the assets held on behalf of customers.
Thank you, @SecretService, and all the agencies and industry partners involved. You acted within minutes to help track and freeze stolen funds, and the work continues.
Your speed, expertise, and dedication helped contain the damage and reduce the risk of potential ripple effects across crypto and, may I say, even the broader financial markets.
Deeply grateful. 🙏🙏🙏🙏
— CZ 🔶 BNB (@cz_binance) November 1, 2026
The exchange reportedly captured a fresh reserves snapshot at 00:00 UTC on October 31. The corresponding zero-knowledge proof computation was still underway, with an updated report expected to be released on November 2.
Proof of Reserves systems are designed to provide users with evidence that a cryptocurrency exchange holds sufficient assets to cover customer balances. These systems typically use cryptographic verification methods to demonstrate that reported holdings correspond to customer liabilities without publicly exposing individual account information.
Zero-knowledge proof technology can strengthen this process by allowing exchanges to demonstrate the validity of specific financial information without revealing the underlying private data.
Binance began restoring withdrawals in phases at 06:00 UTC on November 1, 2026. By 12:36 UTC, withdrawals had resumed for all 15 networks and assets in the initial phase. After an initial spike, withdrawal volumes have declined and are stabilising as expected, while deposit volumes have remained substantial.
Between 06:00 and 15:30 UTC on November 1, we processed $4.649 billion in withdrawals and $1.01 billion in deposits, resulting in a net outflow of approximately $3.64 billion. This represents 2.1% of our $171 billion in total assets under management (AUM), based on the latest available Proof of Reserves (PoR) data as of October 28, 2026. A new PoR snapshot was taken at 00:00 UTC on October 31, and zero-knowledge proof (ZKP) computation began. The updated report is expected to be available on our PoR website tomorrow.
Our team continues testing rigorously the remaining networks and assets. We know how important safe and reliable access to your funds is and will share details of the next phase as soon as we can. Rest assured that market conditions are stable.
Thank you for your patience and continued support.
— Binance (@binance) November 1, 2026
The upcoming reserves report is expected to provide users with updated information about Binance’s financial position following the substantial withdrawal activity associated with the security incident.
North Korea Attribution Keeps Crypto Security in Focus
The reported involvement of North Korea adds another dimension to the investigation, given the continued attention from international authorities toward cryptocurrency thefts linked to state-associated cyber operations.
Tracking stolen digital assets across multiple blockchain networks can be challenging because attackers may move funds through different wallets, exchanges, and transaction routes to complicate identification and recovery efforts.
The involvement of the FBI, IRS-CI, DOJ and Secret Service highlights the importance of cooperation between law enforcement agencies and cryptocurrency platforms in investigating large-scale digital asset thefts.
With withdrawals restored across all 15 initially affected networks and recovery efforts continuing, Binance‘s immediate priority remains maintaining operational stability, supporting customers, and cooperating with authorities as the investigation progresses.
