Binance plans phased withdrawal restart Nov. 1 after hack

The Associated Press reports Circle and Tether executives described major freezes, while Binance asserted user funds were safe.

The Associated Press reports Circle and Tether executives described major freezes, while Binance asserted user funds were safe.

According to Reuters reporting published by Dawn, the first phase was set to cover 15 crypto assets, including bitcoin, ether, XRP and dogecoin. Binance said it had used company money to buy replacement tokens covering 95% of the stolen assets, or about $6 billion. It said the remaining 5% consisted of less-liquid assets that could take longer to obtain in the required amounts.

Bloomberg and Reuters described a scheduled restart; neither reported that withdrawals had reopened.