Binance Reopens 87 Networks After $6.3B Crypto Hack

Binance Has Reopened 87 Networks, Not Every Withdrawal Route

Binance's November 14 notice lists 87 networks for which withdrawals resumed during the week. They include:

• Cardano (ADA)
• Litecoin (LTC)
• Avalanche (AVAX)
• Cosmos (ATOM)
• NEAR Protocol (NEAR)
• Aptos (APT)

The count refers to networks reopened during the week, not the total number of supported networks or a confirmation that every token is available on every network. Binance still directs customers to the withdrawal page for the selected asset and network. It also warns of processing delays while services return.

The exchange said it aims to reopen the remaining routes by the end of next week. That is a target, not an announcement that full service has returned. Its notice gives no separate timetable for each unsupported asset or network.

This is an operational distinction with consequences. A customer may see a balance on the exchange while the specific blockchain route needed to transfer that asset remains unavailable. Binance has progressively restored services since November 1, but an open trading interface and a functioning withdrawal route are not the same thing.

Binance Says the $6.34B Asset Shortfall Is Covered

Two days before the withdrawal update, Binance announced that it had completed coverage of the assets affected by the breach. The company said it committed more than $6.34 billion to acquire replacement tokens through exchanges and over-the-counter markets. It identified three funding sources:

• The Secure Asset Fund for Users (SAFU)
• The portion of its futures insurance fund above its required risk-management level
• Its corporate treasury

Binance also said it intends to restore SAFU to a value of $1 billion. It did not publish a completion date for that replenishment in the November 12 notice.

The exchange released a new Proof of Reserves snapshot taken at 00:00 UTC on November 12, covering 198 tokens. Binance said holders of affected assets would be able to verify backing of at least 1:1 after the snapshot's zero-knowledge proof was generated. The company estimated that computation would take 40 to 50 hours. The snapshot is evidence of reported reserve backing at a point in time. It does not establish that the intrusion has been fully explained or that every transfer route is operating.

These are the different stages Binance and law enforcement have described as of November 14:

The balance-sheet repair and the withdrawal recovery are moving on different schedules. The first is what Binance says it has funded. The second is still being rolled out.

US Authorities Have Frozen More Than $2.7B

On November 12, the US Department of Justice said cooperation between government agencies and private companies had frozen more than $2.7 billion of the stolen cryptocurrency. Courts had authorized the seizure or restraint of more than $1.2 billion within that effort. The $1.2 billion is part of the broader $2.7 billion figure, not an additional amount to add to it.

The DOJ said efforts to trace and recover the assets were continuing. Freezing tokens prevents or restricts transfers under the relevant controls. Seizure, forfeiture and eventual distribution involve further legal steps. None should be confused with Binance using its own resources to replace affected balances.

The FBI attributed the October 29 attack to a North Korean operation it calls TraderTraitor. The bureau reported that the actors had been converting stolen assets into Ether and warned that laundering through DeFi and instant-swap services could follow. North Korea denies responsibility, according to Reuters.

Binance's preliminary account described a campaign that began months before the theft, combining compromised developer machines and unauthorized access to wallet-signing infrastructure. We covered the technical sequence in our November 3 report on the Binance hack. The new withdrawal announcement does not add a final technical explanation or independent findings about the security changes made since the breach.

What Remains Unresolved After the Reopening Notice

The central unknown is no longer whether Binance has announced enough funds to replace the stolen assets. It is how and when the platform will finish restoring access, and what independent evidence will establish that the underlying failure has been addressed.

As of November 14, the outstanding questions are straightforward:

• Which asset and network combinations still have withdrawal restrictions?
• When will Binance confirm that every remaining route is live?
• When will the promised final technical post-mortem be released?
• What portion of the frozen funds will ultimately be recovered through legal proceedings?
• When will the SAFU fund return to its stated $1 billion target?

Binance's November 14 statement answers the first stage of the operational question by confirming 87 network reopenings. It does not answer the rest. The practical test of the recovery is whether the final unsupported routes come back and remain accessible without another suspension.