Binance begins second withdrawal phase, exchange outflows slow
The exchange says additional assets will become available for withdrawal from 04:00 UTC on Tuesday as security checks are completed, following an initial reopening on Sunday.
Binance has commenced its second phase of cryptocurrency withdrawals, with additional assets becoming withdrawable as of 04:00 UTC on Tuesday. This follows an initial reopening on Sunday, and Binance anticipates further stabilization in withdrawal volumes after the recent $6.3 billion hack.
Withdrawal of additional assets will progress across various networks in the second phase, including Binance Smart Chain, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron, and Base. The exchange is prioritizing tokens based on user demand following the previous week's withdrawal prioritization.
Binance remains operational for deposits. On Monday, the exchange also reopened withdrawals for several fiat currencies, including the US dollar, UAE dirham, Vietnamese dong, Philippine peso, and Indonesian rupiah, alongside 23 other currencies already available.
Recent data from DefiLlama indicates a slowing of outflows from Binance, with net outflows reaching $2.57 billion on Monday compared to $6.1 billion the previous day. Binance has cautioned users against potential scams targeting the phased reopening, warning that scammers may impersonate the exchange to offer expedited withdrawals, priority processing, compensation claims, or direct users to a purported "Binance vault".
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