Binance Japan Resumes Trading While Keeping Crypto Withdrawals Paused
Partial Restoration Leaves Key Function On Hold
Binance Japan has restored normal trading and fiat transfers while keeping crypto withdrawals on hold. The exchange confirmed that Bitcoin deposits remain open. Customers can trade and move fiat currency, but cannot send crypto assets off-platform. This partial restoration follows a security incident that froze roughly $3 billion in customer funds.
Breaking news:
The exchange is operating in a split mode. Trading, deposits, and fiat transfers work normally. Crypto withdrawals stay paused pending a full security review. Binance plans to update its reserve position once remediation is complete. The frozen $3 billion figure represents the assets locked during the investigation.
Will Customers Get Their Crypto Back Soon?
Binance has set a 48-hour target for restoring withdrawal functionality. The company says the practical test ahead is completing customer transfers. A separate reserve update will follow the remediation work. Until then, crypto assets remain inaccessible for external transfers.
The situation creates a mixed experience for users. Traders can adjust their Bitcoin exposure through normal trading. However, they cannot move crypto to external wallets. Fiat currency movements proceed without issue. The 48-hour window gives customers a clear expectation for when full service returns.
Can I still deposit Bitcoin while withdrawals are paused? Yes. Binance Japan confirmed that Bitcoin deposits remain open during the withdrawal pause. Customers can add to their positions but cannot send crypto off-platform.
Frequently Asked Questions
How much money is currently frozen? Approximately $3 billion in customer crypto assets remain locked pending the security review. Binance will release these funds once the remediation is verified.
What is the 48-hour target? The exchange aims to restore crypto withdrawals within 48 hours. This timeline covers the practical test of completing customer transfers and updating the reserve position.
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