Binance restores USDC, USDT, ETH, and BNB withdrawals after hot wallet breach
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Binance has restored withdrawals for USDC, USDT, ETH, and BNB following a hot wallet breach, with the exchange reporting that losses were contained to a small portion of its corporate holdings. The incident prompted Binance to temporarily pause on-chain withdrawals while it investigated and moved remaining assets to cold storage, though deposits and trading continued throughout. The exchange emphasized that its Secure Asset Fund for Emergency Users (SAFU) insurance fund remains intact, and it absorbed the losses without passing costs to users. The breach underscores persistent security risks facing centralized exchanges even as Binance, the world's largest crypto exchange by trading volume, demonstrated rapid incident response. Market participants will watch whether on-chain flows normalize, whether Binance discloses the full loss amount and attack vector, and whether regulators or security firms weigh in on the incident.
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