BNB price in focus as Binance restores withdrawals after security incident
Published on 11/02/2026 at 18:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSSecurity incident keeps BNB in focus
- Binance said an October 30 security incident had an estimated impact of $6.3 billion and that about $3 billion in assets had been frozen on-chain.
- Withdrawals resumed in phases, including on the BNB Smart Chain, while Binance said it had restored backing for about 90% of affected assets.
- Investing.com showed BNB at 708.40 USD when the page was read on November 2, with a market capitalization of 93.11 billion USD.
The BNB price remains closely watched after Binance began restoring cryptocurrency withdrawals in phases following a major security incident. The exchange said the incident involved unauthorized withdrawals from a hot wallet and estimated the total impact at 6.3 billion USD.
Withdrawals reopen in phases
Binance said withdrawals were temporarily suspended while security checks were carried out. In a report updated on November 1, CNBC reported that Bitcoin withdrawals reopened first, followed by withdrawals on the Ethereum network and BNB Smart Chain. The phased approach means that the reopening of services does not necessarily represent a full restoration for every asset and network.
Binance said it had restored backing for about 90% of the affected assets. The company plans to source the remaining relevant tokens through market and over-the-counter transactions. CNBC reported that Binance identified BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC as fully backed at that stage.
Customer losses and investigation
In its official security update, Binance said its initial investigation pointed to a compromised DevOps engineer laptop and access to a service container used to submit unauthorized withdrawal transactions. The exchange said it had found no evidence of a wallet private-key leak, and that it would cover the losses through the Secure Asset Fund for Users and company funds. It also said approximately 3 billion USD of affected assets had been frozen on-chain.
The distinction between replacing assets and recovering them remains important for investors. Binance's stated coverage commitment protects customer balances according to the exchange, but it does not establish that the stolen assets have been recovered from the attacker. CNBC reported that the FBI attributed the theft to malicious North Korean actors.
BNB market context
When the Investing.com BNB/USD page was read on November 2, it showed the BNB price at 708.40 USD at 07:55:56, with a 24-hour volume of 1.28 billion USD and a market capitalization of 93.11 billion USD. The page showed a 52-week range of 537.61 to 1,087.10 USD. Because no verified UTC prior-day close was available in the readout, no UTC daily percentage change is stated here.
For investors, the immediate variables are the pace of withdrawal restoration, the completion of security checks and the transparency of Binance's follow-up reporting. The exchange said it would publish an updated proof-of-reserves report after remediation. Further coverage is available on the BNB topic page.
