Binance Replenishes 90% of Stolen Assets Following Record $6.3 Billion Hack

By / / Breaking News

This update was written automatically with AI from market data and news wire reports, and published without review by a person.

Key Takeaways

  • Binance has replenished 90% of the $6.3 billion stolen in a record-breaking security breach, drawing from its corporate treasury, Futures Insurance Fund, and SAFU reserve.
  • Withdrawal services are scheduled to resume on Sunday, November 1, 2026, following a phased security rollout and final system checks.
  • Ten major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), are now confirmed to be 1:1 backed by the exchange's reserves.
  • Approximately $3 billion in stolen assets has been frozen on-chain through cooperation with blockchain partners and law enforcement.
  • The Secure Asset Fund for Users (SAFU) will see a partial deployment over the next 24 hours to cover the remaining 10% of less-liquid token losses.

Binance (BNB) announced on Saturday that it has successfully covered the vast majority of assets lost during the October 29 security incident, which is now recognized as the largest cryptocurrency theft in history. The exchange confirmed it has set aside $6.34 billion in company funds to ensure that users do not bear any financial impact from the breach.

The replenishment strategy utilized a multi-pronged approach, tapping into Binance’s own corporate treasury to purchase billions in tokens via market and over-the-counter (OTC) channels. Additionally, the exchange deployed a portion of its Futures Insurance Fund, while maintaining a balance that exceeds regulatory risk-management requirements.

A partial deployment of the Secure Asset Fund for Users (SAFU) is expected to occur over the next 24 hours to address the final 10% of the impact. These remaining assets consist primarily of less-liquid tokens that require more time to source in the required volumes without causing significant market slippage.

Co-CEO Richard Teng described the breach as a "complex attack" initially triggered by a compromised DevOps engineer's laptop. While the investigation continues, Binance has already taken a new Proof of Reserves (PoR) snapshot as of October 31 to provide transparency and reassure the community that all major user balances are fully accounted for.

The exchange remains on track to resume withdrawal services on November 1, marking a critical milestone in its recovery efforts. Users holding top-tier assets such as Solana (SOL), Ripple (XRP), and USD Coin (USDC) will be able to verify their holdings through updated cryptographic proofs expected to be fully generated by early next week.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. We are not financial professionals. The authors and/or site operators may hold positions in the companies or assets mentioned. Always do your own research before making financial decisions.
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