Relief for Kenyan Crypto Traders as Binance Restores Withdrawals After Days of Disruption

Kenyan cryptocurrency traders have received a reprieve after Binance began restoring cryptocurrency withdrawals. Binance’s restoration of selected withdrawals follows a security incident that forced the exchange to suspend the service for nearly three days.

In an announcement dated November 1, 2026, Binance confirmed it was preparing to resume the first phase of withdrawals for USDC, USDT, and ETH.

Further restoration has been made for withdrawals of USDC, USDT, and BNB on the BNB Smart Chain (BSC).

According to the exchange, withdrawals would return progressively as its teams completed security assessments and verified the readiness of affected services.

“Withdrawals have now been restored for the following assets and networks: – Ethereum Network: USDC, USDT, ETH – BNB Smart Chain (BSC): USDC, USDT, BNB. We will continue to restore additional assets and networks in phases following the completion of our security checks,” part of the announcement read.

However, the traders were cautioned about temporary delays or longer processing times during the initial restoration.

Binance clarified that it would restore additional cryptocurrencies and blockchain networks in subsequent phases once they pass the required security and operational checks.

Also Read: Kenyans Panic as Massive Binance Hack Freezes Deposits and Life Savings

Binance on User Funds

In response to the security breach, estimated to have cost Binance $6.3 billion (approximately KSh819 billion), Binance froze about $3 billion (KSh390 billion) in affected digital assets in cooperation with blockchain partners.

During the suspension, its teams conducted enhanced security reviews and assessed withdrawal infrastructure.

Additionally, the exchange worked with law enforcement and industry partners to trace stolen funds and monitored for possible residual risks.

However, the exchange maintained that customer funds remain safe and pledged to absorb the financial impact of the stolen assets.

The exchange emphasized it had taken precautionary measures following the incident, including enhanced security reviews, assessments of its withdrawal infrastructure, and monitoring for residual risks.

It also confirmed that deposit services remained operational throughout the withdrawal suspension and were not affected by the incident.

Binance Covers 95% of Affected Funds.

In its latest recovery update, Binance disclosed that it had covered approximately 95% of the impacted amount, up from 90% in its previous update.

The remaining 5% consists of less-liquid tokens outside the top ten assets, which the exchange said were taking longer to source in the quantities required.

Binance also confirmed that balances in Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB, Solana (SOL), USD Coin (USDC), XRP, USD1, RLUSD and Zcash (ZEC) were fully backed.

“Binance has already covered approximately 90% of the impacted amount. All BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC balances are fully backed 100%,” Binance stated.

The exchange affirmed it will continue to purchase the outstanding affected assets through market and over-the-counter channels.

Also Read: CMA Appeals to Kenyans for Crypto Evidence in QVSE Investment Scheme Probe

Networks and Assets Included in Binance’s Withdrawal Restoration

It advised customers to check the withdrawal page for their selected cryptocurrency and network before initiating transactions.

Users can also monitor availability on the exchange’s official network status page.

According to the exchange, the first phase prioritized cryptocurrencies and networks based on user demand over the previous week, with additional services to follow once they were ready.

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