Binance announced it has resumed withdrawals for Hyperliquid in a phased approach, restoring 69 network-asset pairs as outlined in its Recovery Update #8 released on November 5, 2026. The exchange stated that it prioritized assets based on recent user demand, performing dedicated security checks before reopening each asset and network combination. However, HYPE, the native token of Hyperliquid, was notably absent from the list of tokens approved for withdrawal.
HYPE token remains inaccessible
The omission of HYPE surprised market watchers, as the token is closely followed and plays a major role within the Hyperliquid protocol—one of the largest platforms for onchain derivatives trading. Although Binance restored withdrawal access to many major tokens, including UNI, AAVE, PAXG, and LDO on Ethereum, and additional assets on BNB Smart Chain, Base, TRON, Polygon, and Sui, HYPE did not return among them.
Instead, Binance opened withdrawals for HYPER, which serves as a cross-chain messaging protocol and token tradable on both Ethereum and BNB Smart Chain. This distinction led to confusion in the community, with some traders mistakenly believing HYPE withdrawals were relaunched, when in fact, only HYPER was available.
Mini dictionary: Hyperliquid is a blockchain protocol specializing in decentralized perpetual and spot derivatives trading. Its native token, HYPE, powers the protocol, while HYPER enables cross-chain communication between networks.
Security review and technical hurdles
Binance’s explanation cited user demand and completion of security checks for each network-asset pair. Since the HYPE token operates natively on Hyperliquid’s Layer 1, rather than as an ERC-20 or BEP-20 deposit, the process of reinstating its withdrawals is more involved than for assets on standard chains such as Ethereum or BNB Smart Chain. According to industry observers, confusion may have stemmed from the similarity in ticker symbols between HYPE and HYPER.
The absence of HYPE may be due to technical factors, such as the need to verify wallet infrastructure, signing processes, node connectivity, and reconciliations unique to bespoke Layer 1 chains. Inventory availability could also be a consideration.
The latest batch of restored withdrawals included top tokens such as BTC, ETH, USDT, BNB, and SOL, while HYPE continued to be unavailable alongside assets like LINK, WBTC, WBETH, and USDS.
| Token | Chain/Protocol | Status |
|---|---|---|
| HYPE | Hyperliquid L1 | Withdrawals not restored |
| HYPER | Ethereum, BNB Smart Chain | Withdrawals restored |
| BTC, ETH, USDT, BNB, SOL | Multiple chains | Withdrawals restored |
Continued fallout from security breach
The withdrawal reopening follows the October 29 hot-wallet security breach, which the FBI linked to North Korea’s TraderTraitor group and initially estimated a loss of approximately $6.3 billion. Binance said it has recovered about 98% of affected assets as of Update #7, with the remaining 2% being less-liquid tokens needing resolution through markets or over-the-counter transactions. Binance has not clarified whether HYPE is included among these.
For now, Binance users can continue trading HYPE on the platform but are unable to withdraw to self-custody or the Hyperliquid protocol itself. Traders are seeking more transparency from Binance about whether the delay relates to security audits, inventory management, or both, as well as a clearer timeline for the restoration of remaining assets.
Binance continues to stress the need for comprehensive security checks and inventory reviews before restoring each network-asset pair, and has promised phased reopening, broader proof-of-reserves publication, and full coverage of any losses.
For Hyperliquid, the incident has brought increased attention to both the protocol’s resilience and community reliance during unexpected outages. However, Binance’s cautious approach to assets like HYPE leaves some uncertainty for holders, pending further disclosures from the exchange.
