Binance has fully resumed withdrawals for Ripple’s U.S. dollar-pegged stablecoin, RLUSD, on the Ethereum network. This move marks a new phase in the gradual service restoration following a cyberattack on October 29, which resulted in losses of approximately $6.3 billion.
Withdrawal Resumption Enters Key Phase
On November 3, at 04:00 UTC, Binance initiated the second critical phase of the withdrawal reopening. The updated list includes RLUSD alongside various stablecoins and numerous crypto assets. Binance emphasized that not all assets would be available simultaneously; each asset and network pairing will be activated gradually, contingent on successful completion of security and operational checks.
Binance stated that additional assets and networks would be reactivated gradually as related security assessments are finalized.
In addition to RLUSD, assets like Shiba Inu, Chainlink, Worldcoin, Ondo, and Ethena are now available for withdrawals on Ethereum. Binance also plans to soon resume withdrawals for large crypto assets, including XRP, on the BNB Smart Chain.
RLUSD is a stablecoin developed by Ripple, pegged to the U.S. dollar. Known for its focus on cross-border payment technologies, Ripple has made its mark in the crypto market, particularly with XRP and institutional payment solutions.
Gradual Network Re-activation Underway
Binance is methodically re-enabling withdrawals across multiple blockchain networks for dozens of cryptocurrencies. These networks include Ethereum, BNB Smart Chain, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron, and Base. The company warned that there might be delays due to high demand during this recovery phase, although deposit functions continue to operate smoothly.
Initially, on November 1, Binance had restarted withdrawals for Bitcoin, Ethereum, XRP, Solana, Dogecoin, Zcash, as well as stablecoins USDT and USDC. With the latest updates, the scope has expanded, incorporating more assets and networks into the recovery plan.
Tracing the Cyberattack Aftermath
The latest update follows just days after Binance was subject to a massive hack on October 29. The event led to the theft of around $6.3 billion in crypto assets, marking one of the largest security breaches in the sector’s history.
The FBI identified the assailants on October 31 as North Korean hackers linked to the TraderTraitor operation.
U.S. officials disclosed that the hackers converted a significant portion of the stolen assets into Ethereum. This method could facilitate obfuscation of asset traces through decentralized finance platforms and crypto exchange services. Binance has stated it will continue to restore withdrawals for new assets and networks as security assessments and operational reviews advance.
