He Yi: After ensuring environmental safety, users can withdraw funds and resume operations

Binance Co-CEO and co-founder He Yi posted on X, stating that the current top priority is to ensure the safety of the environment, after which users can withdraw funds, and Binance can resume operations. She mentioned that every action has motives and pointed out that some exchanges, P2P platforms, and commercial banks have opaque ledgers, disappearing with funds after shutting down their websites, with companies going into liquidation or bankruptcy, providing any excuse, leaving no way to know how much actual funds are in the accounts and where the funds have gone.

He Yi also stated that such closures often come without any warning, with the relevant parties disappearing directly, no real operations taking place, and no one coming forward to explain what happened, making it impossible to open withdrawals. She thanked users for their support at the end of her message. Binance had previously suspended withdrawals due to a security incident, and the official announcement on November 1 stated that withdrawals would be gradually restored starting from 06:00 (UTC) that day, and by 12:36 (UTC), withdrawals for the first batch of 15 networks and corresponding assets had been restored.

Binance stated that from 06:00 to 15:30 (UTC) that day, the platform processed $4.649 billion in withdrawals and $1.01 billion in deposits, with a net outflow of approximately $3.64 billion, accounting for about 2.1% of the $171 billion asset management scale indicated by the reserve proof as of October 28. The official also noted that the withdrawal volume had peaked initially but has since declined and stabilized, while the deposit volume remains substantial, and the other networks and assets are still undergoing continuous testing, with further details to be announced in subsequent phases.