TLDR:
The Binance hack left $6.3 billion in stolen crypto, and the exchange says it has replenished about 90% using company funds.
Binance plans to resume withdrawals on November 1 after security checks, with services expected to return in phases for users.
Binance says ten named assets are fully backed, while less liquid tokens account for the 10% still awaiting replenishment.
A reserve snapshot has been published, and Binance expects full cryptographic proof for eligible user balances by November 3.
The Binance hack has left the world’s largest cryptocurrency exchange working to replace billions in stolen assets. Binance said Saturday it has replenished about 90% of the cryptocurrency taken in the $6.3 billion theft.
The exchange said it will absorb the losses and plans to resume withdrawals on Sunday, November 1. Binance withdrawals were suspended after the attack as the exchange reviewed its systems. The announcement came two days after the attack.
Co-CEO Richard Teng said users would not bear the financial impact. Cryptocurrency prices fell on Friday following the breach, with Bitcoin and other major assets coming under pressure.
Binance Hack Response Draws on Three Funding Sources
Binance said it had set aside more than $6.34 billion in company funds to cover the losses. Its latest update puts the share replenished at 90%, up from approximately 80% in its previous statement.
Update: SAFU fund transfer is complete – this was the large 7,499 $BTC transfer visible here: https://t.co/WIUQHtGE7O https://t.co/WOHKdQLiSG
— Binance (@binance) October 31, 2026
The response to the Binance hack draws on three funding sources. These include Binance’s corporate treasury, part of its futures insurance fund and its Secure Asset Fund for Users, or SAFU. The exchange said it expected to deploy part of SAFU over the following 24 hours.
Before the Binance hack, SAFU served as an emergency fund for exceptional security incidents. Binance said it plans to restore the fund to approximately $1 billion after using part of it to cover losses.
The exchange is buying the missing assets through open markets and over-the-counter transactions. The latter are trades arranged outside public order books, which can help buyers source large quantities.
Binance said the remaining 10% comprises less liquid tokens outside the ten assets it identified as fully backed. Those assets may take longer to purchase in the required amounts.
The Binance hack also prompted efforts to stop stolen assets from moving. Binance said it worked with law enforcement, token issuers and other partners. Together, they froze approximately $3 billion on-chain.
Frozen assets are separate from the replacement assets Binance is acquiring. A freeze restricts movement, but it does not automatically return the assets to the exchange.
Withdrawal Plans and Proof of Reserves Remain in Focus
Binance withdrawals remain on track to resume on November 1, the exchange said. Its earlier update said services would resume in phases, subject to security checks. The company said deposits and other unaffected platform services remained operational.
The Binance hack investigation has expanded beyond an initially suspected compromised laptop. Binance said investigators found additional points of breach and were still working to establish the full sequence. Security measures include revoking affected authorizations and reviewing the compromised infrastructure. Binance plans to publish a detailed incident report.
Teng also described malicious software that deleted evidence of its activity, making the investigation harder. Binance said on Friday it had found no evidence that wallet private keys were leaked.
Blockchain intelligence firm TRM Labs attributed the theft to the North Korea-linked group TraderTraitor. The firm said its assessment was based on on-chain and off-chain intelligence.
After the Binance hack, the exchange published a proof of reserves snapshot taken at midnight UTC on October 31. The report gives users a view of the assets Binance says it holds against customer balances.
Binance said BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC were fully backed. That proof of reserves snapshot reflects holdings at a set time; it excludes subsequent deposits and withdrawals.
The full cryptographic proof will take approximately 40 to 50 hours to generate, the exchange said. According to Binance, the process will allow holders of those tokens to verify their balances within its reported liabilities.
Binance expects to make the full proof available by November 3. Binance said the proof will let users verify a minimum backing ratio of one to one.
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