Secure

Request

insurance

SAFU

Threshold

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 <p style="margin: 0 0 8px; font-weight: bold;"><strong>Key Takeaways</strong></p>
 <ul style="margin: 0; padding-left: 20px;">
  <li><strong>Remaining withdrawals targeted for end of next week</strong></li>
  <li><strong>Notice gives no cutoff hour or closed-route list</strong></li>
  <li><strong>Binance says all $6.34 billion in losses covered</strong></li>
 </ul>
</div>
<p>In its <a href="https://www.binance.com/en/support/announcement/detail/432646a7f7c34c2a85b69db99af32c16" rel="noopener noreferrer nofollow">November 14 recovery update</a>, Binance said it reopened withdrawals for 87 networks this week and will “aim” to reopen withdrawals for all remaining networks and assets “by the end of next week.”</p>
<p>The target closes out a recovery that began on October 29, when attackers drained about $6.3 billion from the exchange’s wallets and Binance froze deposits and withdrawals the same day. Withdrawals began returning on November 1, and Coindoo has been following <a href="https://coindoo.com/binance-withdrawal-rush-why-the-numbers-dont-match/" rel="noopener noreferrer nofollow">how the reopening numbers compare with what customers can actually move</a> since the first phase.</p>
<h2 id="a-deadline-with-no-clock-and-no-checklist">A deadline with no clock and no checklist</h2>
<p>Counted from a Saturday notice, “the end of next week” points to the week of November 16, so roughly November 22. That is a reader’s arithmetic, not Binance’s: the announcement names no day, no hour and no timezone, and the verb is “aim,” not “will.”</p>
<p>The second omission matters more. Binance has not published a list of the networks and assets still waiting. Phase one named its assets, this week’s update names its 87 networks, but nothing names the remainder. An asset that appears on neither list is not confirmed closed and not confirmed open; it is simply unaccounted for in public.</p>
<p>Put the two gaps together and the deadline cannot be scored. When the target week ends, a customer will have no official document to hold against reality, because there is no agreed cutoff and no agreed list of what was supposed to reopen by it. Binance’s own answer to that is the <a href="https://www.binance.com/en/network" rel="noopener noreferrer nofollow">network-status page</a>: the live record of which asset works on which chain, updated as routes come back, is there rather than in any dated announcement.</p>
<h2 id="what-has-reopened-so-far">What has reopened so far</h2>
<p>The <a href="https://www.binance.com/en/support/announcement/detail/73911fb819b240f88b88256bdd318eda" rel="noopener noreferrer nofollow">first phase on November 1</a> covered 15 assets, Bitcoin, Ethereum, Solana and XRP among them, chosen by Binance on the basis of user demand during the freeze. Further batches followed through the fortnight, and this week’s 87 networks include ADA, LTC, NEAR and XLM.</p>
<p>Each update describes what reopened in that period, not a running total. Bitcoin’s absence from this week’s list says nothing about Bitcoin; it was handled two weeks ago. The lists only add up when read in sequence.</p>
<p>Even read in sequence, 87 is a count, not a share. Binance restores withdrawals by network, and one asset can live on several networks while one network carries dozens of assets. Without a published total of supported asset-and-network pairs, nobody outside the company can say what fraction of the withdrawal service is back.</p>
<p>A small group of affected tokens sits outside the reopening entirely. Binance says it no longer supports them and will cover holders through its delisting process, so those tokens belong to a different queue and will not show up on any reopening list.</p>
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<h2 id="the-money-is-back-the-plumbing-isn-t">The money is back; the plumbing isn’t</h2>
<p>Two days before the withdrawal update, on November 12, Binance <a href="https://www.binance.com/en/support/announcement/detail/0729ad59cde74700b4eaa96c33441e71" rel="noopener noreferrer nofollow">said it had completed coverage</a> of the affected assets, committing more than $6.34 billion of its own funds. The money came from three pots: part of the Secure Asset Fund for Users (SAFU), the slice of its futures insurance fund sitting above the level Binance says its risk rules require, and the corporate treasury. Replacement tokens were bought on the open market and over the counter. Binance has also pledged to rebuild SAFU to roughly $1 billion, a promise that has not yet been reported as fulfilled.</p>
<p>Alongside the coverage notice came a proof-of-reserves snapshot taken at 00:00 UTC on November 12 and covering 198 tokens. Binance said the zero-knowledge proof that lets customers verify their own balance against the snapshot would take 40 to 50 hours to generate. That window closed at about 02:00 UTC on November 14; whether the proof is now live is visible on Binance’s proof-of-reserves page, not in the announcement.</p>
<div style="margin: 20px 0; padding: 16px 18px; border: 1px solid rgba(128,128,128,0.35); border-radius: 10px; background: rgba(128,128,128,0.08);">
 <p style="margin: 0 0 10px; font-weight: bold;">Earlier milestones on the road to this week</p>
 <div style="display: flex; flex-direction: column; gap: 8px; font-size: 15px; line-height: 1.5;">
  <div><strong>Oct 31</strong> – first post-breach reserves snapshot, 10 tokens
  </div>
  <div><strong>Nov 3</strong> – Binance reports about $2.85 billion of stolen assets frozen or intercepted
  </div>
  <div><strong>Nov 4</strong> – coverage reported at roughly 98%; snapshot widened to 44 tokens
  </div>
  <div><strong>Nov 12</strong> – snapshot widened to 198 tokens
  </div>
 </div>
</div>
<p>Covering a balance and freeing it are different jobs. Binance replaced what was taken by buying the same tokens back, which is why account balances look whole; whether a customer can move that balance off the exchange depends on the network-by-network reopening, which runs on its own timetable. The two statements this week are true at the same time: the losses are covered, and some withdrawal buttons are still grey. <a href="https://www.aljazeera.com/news/2026/11/1/binance-restarts-withdrawals-after-6-3bn-heist" rel="noopener noreferrer nofollow">US authorities have attributed the theft to North Korea</a>, and the investigation into the stolen coins runs separately from either timetable.</p>
<h2 id="getting-a-withdrawal-out-once-the-route-is-open">Getting a withdrawal out once the route is open</h2>
<p>A reopened route is permission to try, not confirmation of arrival. Binance warns that traffic during the rollout may slow processing, and its <a href="https://www.binance.com/en/support/faq/detail/115003743192" rel="noopener noreferrer nofollow">withdrawal-status guidance</a> treats a transfer as a chain of handoffs, each of which can stall on its own. The table shows where to look when one does.</p>
<div style="margin: 18px 0; border: 1px solid rgba(128,128,128,0.35); border-radius: 10px; overflow: hidden;">
 <table style="width: 100%; border-collapse: collapse; font-size: 14px; line-height: 1.5; table-layout: fixed;">
  <caption style="padding: 12px; text-align: left; font-weight: bold; background: rgba(128,128,128,0.12);">
   If a withdrawal is stuck, where to look
  </caption>
  <thead>
   <tr style="background: #18354a; color: #ffffff;">
    <th style="padding: 10px; text-align: left; width: 38%;" scope="col">Stage</th>
    <th style="padding: 10px; text-align: left;" scope="col">Where the answer is</th>
   </tr>
  </thead>
  <tbody>
   <tr>
    <th style="padding: 10px; text-align: left; font-weight: 400; border-top: 1px solid rgba(128,128,128,0.35); vertical-align: top;" scope="row">Request sitting in “processing”</th>
    <td style="padding: 10px; border-top: 1px solid rgba(128,128,128,0.35);">Binance withdrawal history; no transaction ID yet means the exchange has not broadcast it</td>
   </tr>
   <tr>
    <th style="padding: 10px; text-align: left; font-weight: 400; border-top: 1px solid rgba(128,128,128,0.35); vertical-align: top;" scope="row">Transaction ID issued, nothing received</th>
    <td style="padding: 10px; border-top: 1px solid rgba(128,128,128,0.35);">A block explorer for that network; the TXID shows whether the transfer is confirmed or pending</td>
   </tr>
   <tr>
    <th style="padding: 10px; text-align: left; font-weight: 400; border-top: 1px solid rgba(128,128,128,0.35); vertical-align: top;" scope="row">Confirmed on-chain, not credited</th>
    <td style="padding: 10px; border-top: 1px solid rgba(128,128,128,0.35);">The receiving platform’s confirmation threshold, which can be higher than Binance’s</td>
   </tr>
   <tr>
    <th style="padding: 10px; text-align: left; font-weight: 400; border-top: 1px solid rgba(128,128,128,0.35); vertical-align: top;" scope="row">Threshold met, still not credited</th>
    <td style="padding: 10px; border-top: 1px solid rgba(128,128,128,0.35);">The receiving platform’s support desk, with the TXID; at this point Binance is no longer involved</td>
   </tr>
  </tbody>
 </table>
</div>
<p>One check belongs before the request rather than after it. Because Binance reopens by network, an asset may come back on one chain before another, and a route being open on Binance says nothing about whether the destination accepts that asset on that chain. Sending on a network the receiving wallet or exchange does not support is the one failure in this sequence that no status page can undo.</p>
<p>The useful things to watch for around November 22 are a dated completion notice, a full list of the routes it covers, and whether “aim” hardens into a firm date or slips to another week. Until one of those appears, the authoritative answer for any single asset is the network-status page on the day you try, not the announcement that promised it.</p>
<p>The post <a href="https://coindoo.com/binance-sets-a-deadline-for-restoring-withdrawals/" rel="noopener noreferrer nofollow">Binance Sets a Deadline for Restoring Withdrawals</a> appeared first on <a href="https://coindoo.com" rel="noopener noreferrer nofollow">Coindoo</a>.</p>

Binance Sets a Deadline for Restoring Withdrawals

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