Binance opens crypto withdrawals in phases starting with bitcoin following $6.3 billion hack

Binance reopens customer withdrawals following a record $6.3 billion exploit. Bitcoin leads the first phase.

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Mechanism of Phased Withdrawal and Prioritization: Binance employs a staggered approach to restore services to ensure stability and security. Assets are prioritized for reconnection based on historical user demand data, with the Bitcoin network serving as the inaugural phase.
Operational Risks and User Expectations: The exchange explicitly cautions that the recovery process will involve congestion, longer processing times, and potential temporary failures. Users are advised to monitor the official network status page and retry transactions if they do not succeed immediately.