Binance restarts withdrawals after a $6.3 billion hack. Why its customers in France have been in a special position since 1 July, and how to check whether your crypto platform is authorised

On Sunday 1 November, the crypto exchange Binance said it was gradually resuming withdrawals. They had been halted after a hack on Thursday 29 October, with losses put at a record $6.3 billion. Binance says user funds are safe and that the platform, not its customers, will absorb the cost of the theft. It did not say how or on what timetable the gradual restart will run (franceinfo, citing AFP).

That is the company's own promise. For a customer living in France, something else matters more: since 1 July 2026, Binance has not been allowed to provide crypto services here.

What changed on 1 July

Until this summer France ran its own regime under the Pacte law, with crypto platforms registering with the AMF as PSANs. The EU's MiCA regulation has applied to crypto-asset service providers since 30 December 2024, and firms already operating under the French rules were given a transition period until 1 July 2026. As the AMF announced on 6 July, that transition ended on 2 July: offering crypto services in EU countries now requires MiCA authorisation, and there is no equivalence regime for providers from outside the EU. Unauthorised platforms are winding down under plans the AMF monitors with ESMA, with clients' interests as the stated priority.

Binance has no MiCA authorisation. According to JeChange, since 1 July its French customers can only close positions and withdraw crypto or euros to a bank account; they cannot open an account, deposit money or buy crypto-assets. After the hack, withdrawals were suspended as well.

Many newcomers opened an exchange account before moving and never noticed the change: the app looks the same, but the platform's legal standing in France is different.

Protections crypto-assets do not have

• The securities guarantee (garantie des titres), which compensates investors when an intermediary fails, does not cover crypto-assets, as the AMF pointed out back in December 2024.
• MiCA strengthens protection for clients of authorised providers but, the AMF stresses, does not remove the risks inherent in crypto-assets themselves.
• Liability under MiCA for losses caused by a provider applies to authorised firms. For Binance in France, JeChange's reading is that the promise to cover losses is a commercial commitment rather than a legal obligation.

How to check your platform

The AMF publishes white lists (listes blanches) in its section for retail savers. The category to pick is PSCA, prestataires de services sur crypto-actifs. Each entry shows the firm's status ("Enregistré" or "Agréé"), the date and the services it may offer. If a platform is not on the list, that is a reason to find out on what basis it serves clients in France. According to the AMF, as of 6 July 2026, 31 market participants were authorised in France and 283 across the EU, with more authorisations being finalised.

The AMF also notes that a registration or authorisation is not an invitation to invest: these investments are very risky by nature.

What usually makes sense after an incident like this

• Check withdrawal status inside the app or on the platform's website, opening them directly. A high-profile hack is a convenient hook for phishing: emails and texts "from support" with a link to "recover your funds" deserve suspicion.
• Keep your transaction history and statements: they help both in a dispute with the platform and when filling in a tax return.
• Don't forget tax. How crypto sales and an account on a foreign platform are declared is covered in our guide to boxes 3AN, 3BN, 3CN and form 2086.

We do not give individual investment or legal advice; in a dispute with a platform the rules provide for going to court, and a consultation with an avocat is the appropriate step.