Cryptocurrency exchange Binance has fully enabled withdrawals for Ripple’s RLUSD stablecoin on the Ethereum network. This move is part of the exchange's gradual service recovery process after the massive $6.3 billion hack.
On Nov. 3, the exchange released an update on the next stage of its withdrawal restoration plan, with a new list of cryptocurrencies available for withdrawal.
Interestingly, the new list of assets includes Ripple’s US dollar-backed stablecoin RLUSD and a number of other stablecoins.
This announcement follows Binance’s gradual restoration of withdrawals, which began on Nov. 1 after a brief halt due to one of the largest hacks in the crypto industry.
Binance gradually re-enabling withdrawals
As per the latest recovery update from Binance, the exchange began its second significant withdrawal restoration phase at 04:00 UTC on Nov. 3.
Apart from RLUSD, the cryptocurrency exchange is now gradually re-enabling withdrawals for dozens of cryptocurrencies on multiple blockchain networks, including Ethereum, BNB Smart Chain, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base.
For Ethereum, the list of cryptocurrencies now available for withdrawal includes Shiba Inu (SHIB), Chainlink (LINK), Worldcoin (WLD), Ondo (ONDO) and Ethena (ENA).
At the same time, the cryptocurrency exchange has also added XRP and a number of other top crypto assets to its list of withdrawals that will soon be re-enabled on BNB Smart Chain.
The crypto exchange emphasized that not all of the listed assets will be enabled for withdrawal at once. Instead, each asset and network combination will be re-enabled individually after the necessary security and operational checks are completed.
“We will gradually re-enable more assets & networks in stages once we complete the relevant security checks,” Binance said.
At the same time, the crypto exchange also warned that there may be delays due to traffic during this restoration process. Meanwhile, cryptocurrency deposits remain functional.
Initially, Binance started re-enabling withdrawals on Nov. 1 for top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Dogecoin (DOGE) and Zcash (ZEC), as well as major stablecoins USDT and USDC.
Binance still recovering from $6.3B hack
The latest withdrawal restoration update comes only a few days after the cryptocurrency exchange suffered a massive hack on Oct. 29, which resulted in the theft of about $6.3 billion in crypto.
The FBI officially identified the perpetrators of the hack as North Korean hackers linked to the infamous TraderTraitor operation on Oct. 31.
The U.S. agency revealed that hackers have been converting stolen cryptocurrencies mostly into Ethereum as a potential path toward laundering the assets through decentralized finance platforms and crypto swap services.
More withdrawal restorations will follow as Binance moves forward with its security checks and recovery processes.
