Binance Warns Users of Fake $150 Rewards as Withdrawals Resume

TLDR:

• Binance warned that no cash voucher campaign was running. Yi He said proposed community rewards still needed regulatory approval. 
• Eowyn Chen denied compensation for the withdrawal suspension. Fake screenshots claiming users could receive $150 circulated on social media. 
• Withdrawals resumed across 15 networks, including Bitcoin and Ethereum. The exchange said additional routes would return after security checks
• The Secret Service is investigating the theft of more than $6 billion. CZ thanked investigators and partners for quickly freezing stolen assets. 

Binance warned users about fake reward campaigns and phishing links on November 1. Withdrawals resumed following the October 29 theft. Co-founder Yi He said no cash voucher promotion was running. A planned community rewards campaign still required regulatory approval before it could officially launch. 

Her statement followed circulating screenshots advertising $150 payments for the withdrawal suspension. Eowyn Chen separately denied compensation for the pause and directed users toward official updates. Meanwhile, the U.S. Secret Service said it continued investigating the theft of more than $6 billion. Changpeng Zhao thanked investigators and industry partners for quickly tracking and freezing stolen assets. 

Binance Says Community Rewards Still Need Regulatory Approval

Yi He said the Binance community rewards campaign could begin after the regulator completed its review and granted approval. She expected that regulatory review when offices reopened on Monday, November 2. That timing described the review process, leaving the launch dependent on the regulator’s decision.

🚨🚨🚨 Binance's community rewards campaign requires regulatory approval and will go live after the regulator reviews and approves it once offices open tomorrow. There is currently no cash voucher campaign, so please be vigilant against all types of phishing and scam links.… https://t.co/25vqrsJN7T

— Yi He (@heyibinance) November 1, 2026

She also urged users to watch for phishing links and fraudulent promotions. Her statement did not identify the reviewing authority or announce a confirmed launch time.

Chen, a former Trust Wallet chief executive and interim Binance marketing chief, issued a separate warning. She said users would receive no compensation for the withdrawal suspension and should follow announcements from official accounts. 

Fake screenshots circulating online claimed users could receive $150 because withdrawals had been paused. X user @williamclay also called those images fabricated. The account warned against messages directing users to check a rewards hub or follow a claim link. 

The alerts distinguish the proposed community campaign from the false compensation offers already circulating. Regulatory approval remained outstanding when Yi He posted her clarification.

Binance has separately committed to covering losses from the security incident using company resources. That undertaking concerns stolen assets, while the disputed screenshots advertise additional payments for disruption to withdrawal services. 

The fake offers used the suspension to promise payments. That framing could make screenshots appear connected to genuine ongoing recovery announcements, despite the public denials.

Withdrawals Resume as Secret Service Investigates Crypto Theft

Binance began restoring withdrawals on Sunday, November 1, following a precautionary suspension during security checks. Its latest update confirmed access across 15 networks, with additional routes returning as checks were completed. 

Thank you, @SecretService, and all the agencies and industry partners involved. You acted within minutes to help track and freeze stolen funds, and the work continues.

Your speed, expertise, and dedication helped contain the damage and reduce the risk of potential ripple effects… https://t.co/H4rRqXelV9

— CZ 🔶 BNB (@cz_binance) November 1, 2026

Bitcoin, Ethereum, BNB Smart Chain, XRP Ledger, Base, Dogecoin and Optimism were among the restored networks. Arbitrum, Tron, Solana, Polygon and Avalanche C-Chain also resumed listed services.

The update added ZEC through Zcash, USDT and GRAM through TON, and SUI through Sui. Ethereum and Optimism supported ETH, USDT and USDC, while Base supported ETH and USDC.

Arbitrum included ARB, ETH, USDT and USDC. Polygon included POL, USDT and USDC, while Avalanche C-Chain included AVAX, USDT and USDC. 

The exchange said it had paused withdrawals to contain losses, assess the incident and verify affected infrastructure. Its recovery announcement warned that heavier traffic could temporarily slow processing during the rollout. 

Separately, the Secret Service said investigators and industry partners acted within minutes of the Thursday afternoon incident. They identified and froze a significant portion of the stolen cryptocurrency, while investigative work continued.

Zhao thanked the agency, other authorities and industry partners in an X post. He said their response helped contain damage and reduce potential ripple effects across crypto and broader financial markets. 

Binance said BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC balances were fully backed. Users could check the latest reserve snapshot through the official proof-of-reserves page. Deposit services remained open throughout the phased withdrawal rollout.

Binance said it had covered approximately 95% of the affected amount, compared with 90% in its previous update. The remaining 5% involved less liquid tokens that required more time to source through market and over-the-counter purchases.