Binance Initiates Phased Resumption of Withdrawal Services
In its latest update on security incident recovery, Binance has outlined a detailed plan to gradually reinstate withdrawal services for users. This phased process is scheduled to commence at 12:00 Beijing Time on November 6th.
Recovery Approach and Initial Scope
Consistent with previous protocols, the restoration will not be instantaneous for all assets. Each batch of assets will have its withdrawal functionality reactivated only after passing stringent security reviews. The exchange confirmed that deposit services will remain fully operational throughout the entire process.
The initial phase of the resumption plan encompasses withdrawals for assets across several major blockchain networks, including:
- The Ethereum network and its Layer 2 ecosystems (Optimism, Arbitrum)
- BNB Smart Chain (BSC)
- Polygon
- Base
A variety of tokens are included in this first batch, such as the stablecoin USDE, along with others like PENDLE, ZRO, XRP, and CAKE.
User-Centric Prioritization
Binance emphasized that the order of restoration will be primarily driven by actual user demand observed over the past week. This user-first approach aims to ensure that assets with higher withdrawal needs are addressed sooner.
For other assets not included in the initial list, the exchange stated they will be added to subsequent recovery batches as conditions allow.
Guidance for Users
As the resumption occurs in stages, only specific assets will be available for withdrawal at any given time. Users should be aware of potential temporary effects during the transition period, which may include:
- Short-term processing delays
- Longer than usual confirmation times
If a withdrawal attempt is not immediately successful, the platform advises users to wait and retry later. The entire restoration process will proceed cautiously, with security as the top priority.