Binance’s $6.3B hack recovery hits phase two as outflows—and scammers—slow down

Binance will begin a second phase of cryptocurrency withdrawals on Tuesday, resuming support for additional assets from 04:00 UTC following last week’s $6.3 billion hack. The rollout comes after the exchange initially reopened withdrawals on Nov. 1.

“Like phase one, reopening will roll out progressively across the assets as security and readiness checks are completed,” Binance said. The exchange said it is prioritizing tokens based on user demand over the past week, with deposits remaining available throughout the phased process.

Networks included in the second phase include Binance Smart Chain, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base. Binance also reopened withdrawals for several fiat currencies on Monday, including the US dollar, United Arab Emirates dirham, Vietnamese dong, Philippine peso and Indonesian rupiah, adding to 23 other currencies already available for withdrawal.

Data from DefiLlama showed that outflows from Binance slowed after Sunday, with net outflows on Monday reaching $2.57 billion, compared with $6.1 billion the day before.

In a separate security reminder, Binance warned that scammers could use the phased reopening to impersonate the exchange and offer accelerated withdrawals, sell priority processing, help users claim compensation or direct users to move assets into a purported “Binance vault.” “Anyone promising to expedite it for a fee is scamming you,” Binance said.