Binance targets withdrawal restart within 34 hours after $6.3B hack, plans reserves report Monday

The exchange plans to resume withdrawals in phases, publish updated Proof of Reserves data and recover stolen assets as it works to restore customer confidence. Binance plans to begin restoring withdrawals within approximately 34 hours and publish an updated Proof of Reserves report by Monday, November 2, as the exchange works to recover from a $6.3 billion security breach. In its second security incident update, published Friday, the exchange outlined four immediate priorities, including phased withdrawal restoration, verification of customer reserves, recovery of frozen assets and publication of a technical report explaining the attack. Binance said its technical team is targeting the initial withdrawal reopening within 34 hours of the update, although the timeline remains subject to security reviews and validation of affected systems. The exchange also plans to take an initial Proof of Reserves snapshot within 12 hours and make the results available by November 2, allowing customers to verify the assets backing their balances. The announcement follows an October 29 attack that compromised Binance hot wallets and resulted in approximately $6.3 billion in unauthorized withdrawals,...