Binance says deposits remain unaffected and continue to operate as normal, while withdrawals remain paused.

Binance says deposits remain unaffected and continue to operate as normal, while withdrawals remain paused.

Withdrawals are paused while its team completes a security revamp of the withdrawal service and related addresses after the Oct 29 hot wallet incident, put at around $6.3B starting about 20:24 UTC.

Binance said Oct 30 at 04:36 UTC it expects to begin resuming withdrawals within 48 hours, so reopening would begin by about Nov 1, with further details promised only through official Binance channels (Binance). Co-founder Yi He gave the same 48 hour timeline (Yi He), reported by Cointelegraph.

That 48 hour timeline is for reopening to begin, not finish. Binance says the incident stems from multiple factors, tracing through a compromised computer as possible entry, with a full root cause report to follow, and says losses will be covered via SAFU and company funds.