If an exchange you use reports or is suspected of a hack, do three things: check your account only through the official site or app, decide calmly whether you need your coins on the exchange at all, and treat every "compensation" link as phishing. Withdrawing to your own wallet makes sense if you are not trading, but only after you check the network and address, because a rushed withdrawal is where most avoidable losses happen.
Step 1: check your account without getting phished
In the first hours after big news, fake support accounts, ads and emails appear faster than official updates. Type the exchange address yourself or open the installed app. Do not log in through a link, even one that looks right; you can paste suspicious links into our phishing link checker first.
- Check balance, open orders and recent withdrawals in the history.
- Review active sessions, API keys and devices; revoke anything you do not recognize.
- Turn on or confirm the withdrawal address allowlist and 2FA via an authenticator app.
- Read the exchange status only on its own site or verified accounts.
Step 2: decide whether to withdraw
| Your situation | Reasonable action |
|---|---|
| You keep coins long-term and do not trade | Withdraw to a wallet you control, in small test amount first |
| You trade actively or have open positions | Keep only what you trade; reduce leverage exposure |
| Withdrawals are paused by the exchange | Wait for official updates; do not pay anyone to "unlock" funds |
| You do not have a wallet set up yet | Set it up and back up the seed phrase before moving anything |
Withdrawing during a rush can be slower than usual: queues grow and some networks get congested. If a withdrawal stays pending, see why exchange withdrawals stay pending. For a full walkthrough of moving off Binance specifically, see moving crypto from Binance to self-custody.
Step 3: withdraw without losing coins
- Pick the same network on both sides: USDT on Tron goes to a Tron address, on Ethereum to an Ethereum address.
- Copy the address from your wallet, then compare first and last characters; address poisoning attacks rely on look-alike addresses. Our address poisoning checker helps.
- Send a small test amount first and wait until it arrives.
- Add the memo or tag if the coin needs one.
Once coins are in your own wallet you can swap them without an account, for example USDT to BTC or BNB to USDT. Swaps follow our AML policy: if incoming funds are linked to an incident, the swap can be stopped.
Step 4: ignore compensation and recovery offers
After every major hack, scammers promise refunds, airdrops or "recovery" of lost coins. Real compensation, if any, is announced on the exchange's own site and credited to your account; it never requires your seed phrase, a deposit or a wallet connection on a third-party site. Read more about crypto recovery scams and fake support accounts.
FAQ
Should I withdraw everything from Binance now?
That depends on whether you need the coins on the exchange. If you do not trade, holding long-term funds in your own wallet reduces exchange risk; just withdraw carefully and test first. Binance said it had not confirmed impact on user funds at publication.
Is it safe to log in to my exchange account after a hack?
Yes, if you open the official app or type the address yourself. The danger is phishing pages that copy the login screen during the news cycle.
Will the exchange compensate users?
Only the exchange can say, and it will announce it on its own site. Treat any compensation link in email, Telegram or social media as phishing.
What if my withdrawal is stuck?
Check the transaction status in the exchange history and in a block explorer. During incidents, exchanges may slow or pause withdrawals on some networks; wait for official notices.