Binance announced that withdrawals for Hyperliquid (HYPE) tokens are expected to resume by the end of next week. This update follows public inquiries from users regarding the prolonged suspension of transfers for the asset. Currently, holders can trade HYPE on the platform but are unable to move their tokens to private wallets or other exchanges.
The withdrawal freeze began on October 29 following a security breach that reportedly affected $6,3 billion in funds. Binance stated that it is restoring withdrawal services by prioritizing tokens based on user demand and conducting individual security checks for each network. The exchange noted that HYPE operates on its own blockchain, which requires specific technical verification.
Alongside HYPE, Binance plans to restore withdrawals for INJ, APT, PLASMA, NEAR, and LTC by the same deadline. The exchange has committed to covering all user losses resulting from the security incident. While Binance has provided a timeline for the restoration of services, it has not disclosed specific reasons for the delay regarding the HYPE token.
Binance initially launched spot trading for HYPE on September 24, 2026, categorizing it as a higher-risk asset. Other platforms, including OKX, Kraken, and Coinbase, had listed the token earlier. Former CEO Changpeng Zhao previously noted that Binance historically required the exchange to hold listed tokens to mitigate counterparty risks, though it is unclear if this policy remains in effect.
