As of 30 October 2026, two statements about Binance services after the 29 October 2026 breach need to be read together, because they do not fully agree. The first is the timetable: co-CEO Yi He expects withdrawal resumption to begin within 48 hours. The second is the scope: deposits and withdrawals were suspended as a precaution, yet some reports have said deposits were unaffected. Both cannot be taken as settled fact at the same time, and the timeline below keeps them separate.

The breach itself is the starting point of the timeline. On 29 October 2026, Binance suffered a security breach estimated at about $6.3 billion, the largest crypto theft on record, ahead of the $1.5 billion Bybit theft in 2025. A service suspension following a loss of that size is a precautionary response, designed to stop further unauthorised movement while the incident is assessed.

Two accounts of deposit status

The main reported position is that deposits and withdrawals were suspended as a precaution. That account fits the preliminary mechanism: a compromised DevOps engineer laptop may have allowed an attacker to access a service container and submit unauthorised withdrawal transactions, with EIP-7702 reportedly used on Binance 14 to turn it into a sweeper, moving around 204,500 ETH. If withdrawals were the attack route, pausing them is the direct response; pausing deposits at the same time would be the wider precaution.

The conflicting account is narrower. Some reports have said deposits were unaffected, which would mean only withdrawals were paused, or that deposit services continued while withdrawal services were stopped. That version, if correct, would change what users could do during the pause: they could still send funds in, even though they could not take funds out. The verified facts do not settle which version is correct, and this article does not choose between them.

Why the discrepancy matters is practical, not just editorial. A user reading only the suspension account might hold off sending funds, while a user reading only the unaffected-deposits account might send funds expecting normal handling. Until Binance clarifies the deposit position officially, neither reader has a confirmed basis for acting, which is why official Binance channels, not early reports, are the source to check for current status.

The 48-hour expectation in context

The 48-hour expectation sits on top of that unresolved scope question. Yi He expects withdrawal resumption to begin within 48 hours, but that expectation is about withdrawals beginning to return, not about deposits, and not about every service returning at once. No confirmed start hour, phased schedule, or completion date has been published in the verified facts, so the timeline at this stage has an expected beginning and no confirmed end.

Parallel work during the pause does not resolve the deposit question either. About $3 billion has been frozen so far, including $2.3 billion in USDT and USDC, with Tether freezing more than $1.567 billion in USDT, Circle about $823 million in USDC, Ripple about $200 million, and World Liberty Financial $27 million in USD1. Yi He has also said all losses will be covered from company funds and the SAFU emergency fund, which holds about $1 billion in bitcoin, and that user funds are safe. Both points address recovery and coverage, not the deposit status.

The next dated milestone after any resumption begins is the proof-of-reserves snapshot on 1 November 2026, which will show whether stolen assets were replaced, including whether ETH backing recovers from near 94 percent, down from 100 percent on 1 October. That snapshot is a check on backing, not a clarification of the deposit timeline, so the deposit discrepancy may need a separate official clarification even after withdrawals return.

Frequently asked questions

FAQ: When do withdrawals return? Yi He expects resumption to begin within 48 hours, as an expectation, not a confirmed timetable. Were deposits suspended? The main reported position says deposits and withdrawals were suspended as a precaution, but some reports say deposits were unaffected, so that detail is disputed. What should users do? Check official Binance channels for the current status of both deposits and withdrawals, since the investigation is ongoing and figures are preliminary, and this article gives no advice on moving funds.