Crypto news, 1 November 2026: Binance reopens withdrawals, 3.6 billion in outflows and the FBI blames North Korea
Binance reopens withdrawals in phases and says it has covered 95% of the stolen funds, 3.64 billion in net outflows in the first hours, the FBI attributes the attack to North Korea's TraderTraitor and prices hold steady.
Sunday, 1 November 2026. We gather the relevant facts of the last 24 hours, each checked against a primary or reliable source. The day is dominated by the aftermath of the roughly 6.3 billion dollar attack on Binance on Thursday.
Binance reopens withdrawals in phases and covers 95% of the stolen funds
On Sunday morning Binance began the first phase of reopening withdrawals, which had been suspended after the attack on its hot wallets. In its latest update the company says it has covered 95% of the stolen assets, up from 90% on Saturday, and is still buying the remainder, made up of less liquid tokens that take longer to source at the required scale. Binance repeats that it will bear the financial impact itself and that the losses will not be passed on to users.
According to the list published by the exchange and reported by Exchange.news, by 12:36 UTC withdrawals had been re-enabled on 15 networks, including Bitcoin, Ethereum, BNB Smart Chain, XRP, Solana, Tron, Arbitrum, Polygon, TON and Zcash, for a selection of assets such as BTC, ETH, USDT and USDC. Other networks and tokens will reopen only after further security checks, with no timetable. The company warns that processing may take longer because of traffic and plans a more detailed incident report once its investigation is complete.
3.64 billion in net outflows in the first hours
According to figures released by Binance and reported by The Block, between 1 a.m. and 10:30 a.m. ET the exchange processed 4.65 billion dollars in withdrawals and 1.01 billion in deposits, a net outflow of about 3.64 billion, equal to 2.1% of its 171 billion in assets based on the proof of reserves of 28 October. After the initial spike, withdrawals are said to be easing and stabilising.
Over 24 hours DefiLlama estimates net outflows of 4.05 billion, while the next ten exchanges it tracks recorded combined net inflows of about 368 million, led by OKX with 316.8 million. Binance says a new proof of reserves report, based on a 31 October snapshot and computed with zero-knowledge proofs, should be published on Monday.
The FBI attributes the attack to North Korea's TraderTraitor group
On Saturday evening the FBI issued an alert stating that North Korea was responsible for the theft of more than 6 billion dollars in virtual assets from Binance on or about 29 October, and named the activity TraderTraitor. Together with the Secret Service and IRS Criminal Investigation, the Bureau has observed the funds being converted mainly into ether and expects further laundering through DeFi and instant swap services.
The three agencies are urging exchanges, node operators, DeFi services, blockchain analytics firms and other virtual asset service providers to block transactions linked to the addresses listed in the alert. The attribution confirms the assessment already published by the analytics firm TRM Labs, which put the theft at 6.36 billion.
Markets: steady prices over the weekend
According to CoinGecko, checked today at 18:02 Zurich time, bitcoin is trading around 78,090 dollars, about 64,330 Swiss francs, up 0.7% over 24 hours. Ether is around 2,268 dollars (+0.8%), BNB about 711 dollars (+0.8%) and the USDT stablecoin remains close to parity at 0.999 dollars. Despite the large movements of funds at Binance, the prices of the main cryptocurrencies showed no shocks during the day.
Sources
- TechCrunch, reopening of withdrawals and 95% coverage: https://techcrunch.com/2026/11/01/binance-resumes-withdrawals-following-6-3-billion-breach/
- Exchange.news, networks re-enabled in phase one: https://exchange.news/news/binance-withdrawals-re-enabled-zcash-ton-sui/
- The Block, flows after the reopening and proof of reserves: https://www.theblock.co/news/business/2026-11-01-binance-sees-3-64-billion-in-net-outflows-after-reopening-withdrawals-following-record-hack-432259
- FBI, alert on the Binance attack: https://www.fbi.gov/investigate/cyber/alerts/2026/north-korea-responsible-for-6-billion-binance-attack
- Yonhap, summary of the FBI alert: https://en.yna.co.kr/view/AEN20261101000300315
- CoinGecko, prices checked on 1 November 2026 at 18:02: https://www.coingecko.com/en/coins/bitcoin
