Binance gives a 34-hour withdrawal timeline, with Proof of Reserves due Monday
Cointelegraph reports that Binance expects phased withdrawals to start returning within about 34 hours, with fresh Proof of Reserves results due Monday. This follows the $6.3B hack. It is the first concrete timeline since the incident, and it comes while the market sits in fear and BTC trades near six-week lows. Users on X are anxious: one poster, @0xsagor_20, complained that centralized exchanges keep getting hacked, naming Binance, Bitget and Bybit, and said it is hard to know what to trust. Another account floated a bank-run theory. That theory is a skeptic's view, not a confirmed fact. Meanwhile BSC News noted that Midnight's token rose 8.2% on the day while Bitcoin fell 4.8% and Ether 4.2%, as total crypto market cap slid to about $2.7T after the hack.
- Watch Binance's official announcements for the withdrawal restart and its phases.
- Read the Proof of Reserves results on Monday and check who audited them and how they were built.
- Compare exchange wallet balances on-chain with the figures Binance publishes.
The timeline gives users a date to watch, but trust depends on Monday's Proof of Reserves and on whether withdrawals actually return on schedule. Until then, the bank-run talk remains a theory, not a fact.