BNB price steadies as Binance restores withdrawals
Published on 11/08/2026 at 07:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSRecovery Progress Meets Security Risk
- Binance says 90% of assets affected by the October incident are covered and BNB is fully backed.
- Withdrawals resumed in phases, including on BNB Smart Chain, according to CNBC.
- Investing.com displayed BNB at 694.90 USD, while no verified UTC previous-day close was available for a daily percentage comparison.
BNB price steadied around 694.90 USD as investors assessed Binance's recovery after the October security incident. The Investing.com BNB/USD page displayed 694.90 USD and labeled the quote real-time; its retrieved page also showed a 52-week range of 537.61 to 1,018.40 USD. The ad-hoc-news.de BNB theme recorded the same 694.90 USD level in a November 7 reading.
Binance reports recovery progress
Binance said the incident occurred at approximately 20:05 UTC on October 29 and affected token assets worth about 6.3 billion USD. In its Security Incident Recovery Update No. 3, the exchange said 90% of the affected assets had been covered. It also stated that BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC were 100% backed, while the remaining 10% involved less-liquid tokens that Binance continued to source through market and over-the-counter channels.
The exchange attributed the replenishment effort to a combination of its Secure Asset Fund for Users, part of its futures insurance fund and corporate treasury resources. Binance said it would bear the financial impact rather than pass the losses to users. Its update also referred to a Proof of Reserves snapshot taken on October 31 at 00:00 UTC.
Withdrawals are no longer the main bottleneck
Withdrawal services were restored in stages after additional security checks. CNBC reported that withdrawals resumed for bitcoin first, followed by Ethereum and BNB Smart Chain. The report also distinguished between asset backing and recovery from the attacker: covering 90% of customer assets did not mean that 90% of the stolen funds had been recovered.
What the BNB price signals
The recent BNB price therefore reflects a recovery narrative rather than a confirmed new trend. The token remains below the 1,018.40 USD 52-week high shown by Investing.com, while the exchange's restoration of withdrawals removes one immediate operational concern. However, the investigation into the attack remains ongoing, and the distinction between replenished customer backing, frozen assets and funds recovered from the attacker remains material for risk assessment.
Investors should also avoid treating the displayed 694.90 USD level as a verified UTC daily move: the available sources did not provide a matching previous-day UTC close. Further developments around Binance's investigation, asset replenishment and platform security are therefore more relevant than an isolated intraday percentage.
More BNB coverage is available on the BNB theme page.
