Binance Reopens ADA Withdrawals via BNB Smart Chain as Native Cardano Network Remains Suspended

Binance began its second phase of cryptocurrency withdrawal restoration on November 3 following the security incident in late October. ADA was included among the assets scheduled for reopening, but exclusively through BNB Smart Chain (BSC), with the native Cardano network absent from the approved withdrawal routes.

According to Binance's Recovery Update #6, the phased rollout began at 04:00 UTC, with each asset and network combination subject to separate security and operational checks.

Binance Adds ADA to Its Second Withdrawal Recovery Phase

The second phase covers nine blockchain networks, including BNB Smart Chain, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron, and Base.

ADA appears exclusively under BSC, alongside assets such as Litecoin, Polkadot, and Stellar, whose native networks were also excluded from this phase.

Binance explained that withdrawal restoration is being prioritized according to user demand over the preceding week. Each asset and network combination must complete security checks before activation, meaning the listed withdrawal options do not necessarily become available simultaneously.

A status review reported on November 4 at approximately 14:00 UTC indicated that ADA withdrawals through BSC were available or being progressively enabled, while native Cardano withdrawals remained suspended.

Deposit services were not affected by the withdrawal restrictions and continued operating throughout the recovery process.

Why BEP20 ADA Is Different From Native Cardano ADA

ADA withdrawn through BNB Smart Chain is represented by a token on BSC rather than the native asset recorded on the Cardano blockchain.

The token, known as Binance-Peg Cardano Token, follows the BEP20 standard and operates through a smart contract on BNB Smart Chain.

Receiving it requires a wallet that supports BSC and the corresponding token. BSC addresses generally begin with 0x, while native Cardano receiving addresses typically begin with addr1.

As a result, BEP20 ADA cannot be transferred directly to a native Cardano address in wallets such as Yoroi, Eternl, or Lace. Selecting an incompatible network or destination address can result in inaccessible or lost funds.

The difference also affects functionality. ADA represented on BSC cannot directly participate in native Cardano staking, stake pool delegation, DRep governance, or Cardano-based DeFi protocols.

Accessing those functions requires native ADA on the Cardano blockchain. Holders of the BEP20 representation must use a supported transfer or conversion process to move their assets onto the native network.

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Binance Recovery Continues Without a Date for Native ADA Withdrawals

The withdrawal restoration is part of Binance's recovery following the October 29 security incident, which the exchange reported affected approximately $6.34 billion in digital assets.

Binance committed to covering the financial impact using its own resources and the SAFU fund, rather than passing losses on to customers.

In a November 3 recovery update, the exchange reported that it had replenished approximately 98% of the affected assets while continuing to source the remaining tokens and restore withdrawal services.

The exchange has not announced a reopening date for withdrawals through the native Cardano network. Its recovery process continues to assess additional assets and networks before enabling transfers.

As of the November 4 status review, ADA withdrawals through BNB Smart Chain were available or undergoing phased activation, while direct withdrawals to Cardano remained outside the announced recovery phases. Binance's withdrawal interface provides the operational status of each supported network and asset combination.