Binance plans three-hour withdrawal window on November 1st after $6.3B theft
The exchange says its top 10 assets are fully backed and the remaining 5% is in less liquid tokens it is still buying through market and OTC channels.
By Ryan Merket · Published
Why it matters
At about $6.36 billion, this is the largest crypto theft on record, and the withdrawal window is the first test of whether Binance can meet customer demand while absorbing the loss itself.
Binance says it is preparing to resume phase one of withdrawals on November 1st between 06:00 and 09:00 UTC, its first attempt to restore customer access after about $6.36 billion was drained from its wallets on October 29th.…
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.