Binance covers 90% of losses after $6.3 billion hack, withdrawals due to reopen Sunday
Binance says it has replenished 90% of the assets stolen in a record $6.3 billion platform hack, using company funds and part of its emergency reserve. The exchange says withdrawals are expected to resume on Sunday, November 1, while the remaining tokens are sourced.
By DoomRadar · Published on DoomRadar . Updated .
How the effects could reach youConditional effects
Based on two sources with available article excerpts. Source-linked claims are not independent confirmation.
Event date: The replenishment update and proof-of-reserves snapshot were reported on October 31, 2026; the snapshot was taken at 00:00 UTC that day. [1][2]
What happened
Binance said it had covered 90% of the amount stolen in the $6.3 billion hack and set aside about $6.34 billion in company funds to absorb the loss rather than pass it to users. [1][2]
References for this detail (2)
- Binance replenishes 90% of assets stolen in record hacktheglobeandmail.com · Article published: Oct 31, 2026, 3:47 PM UTC
- Binance Crypto Security Incident | Recovery Update #3: 90% of Stolen Assets Replenished; Proof of Reserves Snapshot Provided (2026-10-31) – LiveNews.co.nzlivenews.co.nz · Recorded source date: Nov 1, 2026, 2:46 AM UTC
The exchange said the remaining 10% involved tokens with lower liquidity, which may take longer to obtain in the required quantities. It said purchases would continue through market and over-the-counter channels. [1][2]
References for this detail (2)
- Binance replenishes 90% of assets stolen in record hacktheglobeandmail.com · Article published: Oct 31, 2026, 3:47 PM UTC
- Binance Crypto Security Incident | Recovery Update #3: 90% of Stolen Assets Replenished; Proof of Reserves Snapshot Provided (2026-10-31) – LiveNews.co.nzlivenews.co.nz · Recorded source date: Nov 1, 2026, 2:46 AM UTC
Binance said it partially deployed its Secure Asset Fund for Users, or SAFU, an emergency reserve intended to protect customers during security breaches and platform incidents. [1][2]
References for this detail (2)
- Binance replenishes 90% of assets stolen in record hacktheglobeandmail.com · Article published: Oct 31, 2026, 3:47 PM UTC
- Binance Crypto Security Incident | Recovery Update #3: 90% of Stolen Assets Replenished; Proof of Reserves Snapshot Provided (2026-10-31) – LiveNews.co.nzlivenews.co.nz · Recorded source date: Nov 1, 2026, 2:46 AM UTC
The company said its chief executive, Richard Teng, described the breach as a complex attack involving a compromised laptop and malicious software designed to erase evidence and hinder investigation. [1]
References for this detail (1)
- Binance replenishes 90% of assets stolen in record hacktheglobeandmail.com · Article published: Oct 31, 2026, 3:47 PM UTC
Binance reported a new proof-of-reserves snapshot taken at midnight GMT on October 31. It said the listed BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC holdings were fully backed, while the full zero-knowledge proof would take about 40 to 50 hours to generate. [1][2]
References for this detail (2)
- Binance replenishes 90% of assets stolen in record hacktheglobeandmail.com · Article published: Oct 31, 2026, 3:47 PM UTC
- Binance Crypto Security Incident | Recovery Update #3: 90% of Stolen Assets Replenished; Proof of Reserves Snapshot Provided (2026-10-31) – LiveNews.co.nzlivenews.co.nz · Recorded source date: Nov 1, 2026, 2:46 AM UTC
Context from the sources
SAFU was established by Binance in July 2018 and funded over time with a percentage of trading fees, according to the recovery update. [2]
Explore the sources and reporting timeline
2 source links · 2 domains
These counts describe the references, not independent confirmations. Different outlets can repeat the same original report.
Source timeline
Oldest to newest among the available source dates, not a chronology of the incident. Article publication dates come from the source; other recorded dates may reflect when a link was found.
- [1] Binance replenishes 90% of assets stolen in record hacktheglobeandmail.comReferenced for: detail 1, detail 2, detail 3, detail 4, detail 5
- [2] Binance Crypto Security Incident | Recovery Update #3: 90% of Stolen Assets Replenished; Proof of Reserves Snapshot Provided (2026-10-31) – LiveNews.co.nzlivenews.co.nzReferenced for: detail 1, detail 2, detail 3, detail 5
Questions answered by the reporting
What happens to the remaining 10% of stolen assets?
Binance says the shortfall consists of less-liquid tokens and that it will continue buying the required assets through market and over-the-counter channels. [1][2]
When are withdrawals expected to resume?
Binance says it remains on track to reopen withdrawal services on Sunday, November 1, 2026, but the timing was still subject to confirmation. [2]
What this could mean for you
Some users may remain unable to withdraw or move assets from Binance.
The exchange linked withdrawal resumption to a later reopening milestone while the recovery process and full proof were still being completed.
Reported basis: [2] · The possible effect is interpretation.
Depends on: Withdrawals do not reopen as scheduled or the platform identifies further problems during restoration.
Possible time frame: days, if those conditions hold.
Users and other exchanges may face continued exposure to follow-on compromise or investigation delays.
Binance described a compromised laptop and malware intended to delete evidence, indicating that the breach involved an internal device and anti-forensic activity.
Reported basis: [1] · The possible effect is interpretation.
Depends on: Further compromised systems or previously undetected stolen assets are identified.
Possible consequences, not a forecast. Their relevance depends on your location and the conditions above.
For your country
Choose a country to check how this event could affect you.
What changes the outlook
Risk increases if…
Binance fails to reopen withdrawals on the stated November 1 timeframe.
The exchange cannot source the remaining low-liquidity tokens or its completed proof-of-reserves process reveals a shortfall.
Pressure eases if…
Withdrawals reopen with the promised user access restored.
Binance completes the zero-knowledge proof and reaches full coverage for the remaining tokens.
Still unclear
The sources do not confirm that withdrawals had reopened by the time of the update.
The full proof-of-reserves verification had not yet been generated, and the sources do not establish the final recovery date for all remaining tokens.
Market implications
Market impact
Sources (2)
References for the reported details. Separate links do not necessarily mean independent confirmation.
Available excerpt
Cryptocurrency exchange Binance said on Saturday it has been able to cover 90 per cent of the amount stolen after a record US$6.3-billion hack of…A short excerpt from our source record; open the original for the full article.
Available excerpt
Our last update explained that Binance had set aside more than $6.34B in company funds to cover hacked losses, and we had already covered approximately…A short excerpt from our source record; open the original for the full article.
First tracked by DoomRadar: . AI-assisted analysis · . Based on linked headlines and available excerpts. Methodology · Report an error.