Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Binance cofounder Yi He has issued a safety warning to the crypto community as fake rewards campaigns and phishing links circulate, urging users to remain vigilant against fraudulent promotions.
In an X post, Yi He clarified that Binance's community rewards campaign requires regulatory approval and will go live only after the regulator reviews and approves it. The review is expected to take place once offices reopen tomorrow.
She also stressed that there is currently no cash voucher campaign, urging users to be vigilant against all types of phishing and scam links. The clarification comes amid growing concerns over scammers exploiting the anticipation surrounding promotional campaigns to target cryptocurrency users.
Eowyn Chen, former CEO of Trust Wallet and Binance's interim CMO, shared a security warning along these lines.
In an X post that included a scam alert, Chen stated that there is no compensation for the withdrawal suspension, urging users to stay safe and follow only official Binance accounts' updates.
This comes as scammers circulate fake compensation rewards, in some cases $150. X user @williamclay responded to Chen's post, saying the "free $150 compensation" screenshots circulating are fake, adding that there is no compensation for the withdrawal pause and that users should treat any "check your reward hub" or claim link as a scam.
Binance reopens withdrawals
Binance began restoring customer withdrawals on Sunday, November 1, 2026 after hackers attempted to drain over $6 billion in the biggest cyber theft ever recorded.
In the latest update, withdrawals have now been re-enabled for the following networks and assets: ZEC network: ZEC; TON network: USDT, GRAM; SUI network: SUI; BTC network: BTC; ETH network: ETH, USDT, USDC; BSC network: BNB, USDT, USDC; XRP network: XRP; Base network: ETH, USDC; DOGE network: DOGE; OP (Optimism) network: ETH, USDT, USDC; Arbitrum network: ARB, ETH, USDT, USDC; TRX network: TRX, USDT; SOL: SOL, USDT, USDC; MATIC (Polygon) network: POL, USDT, USDC; AVAXC network: AVAX, USDT, USDC.
Withdrawals were temporarily suspended as a precaution while Binance worked to contain the incident's losses, assess its impact, restore affected services, and complete security checks.