Binance Warns of Fake Compensation Offers as Withdrawals Resume

Binance has resumed withdrawals after a $6.3 billion outflow event, warning users that scammers are impersonating the exchange with fake compensation offers and bogus fees for expedited processing. Alongside the restart, Binance completed a cryptographic proof-of-reserves attestation covering 10 tokens, allowing customers to independently verify that their holdings are backed. The exchange cautioned that no legitimate compensation program requires upfront payments or priority-processing charges, urging users to rely only on official channels. The developments come as the platform works to restore confidence following the heavy outflows that pressured the world's largest crypto exchange. Analysts will be watching withdrawal volumes, reserve-attestation adoption, and whether outflow pressure stabilizes in the coming days.