Binance, the world’s largest cryptocurrency exchange, announced significant progress in its efforts to replenish assets following a cyberattack worth approximately $6.3 billion. The exchange
Binance, the world’s largest cryptocurrency exchange, announced significant progress in its efforts to replenish assets following a cyberattack worth approximately $6.3 billion. The exchange stated that 90% of the stolen cryptocurrency assets have been replenished using company resources, and that reserves in 10 major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and BNB, have been fully replenished.
According to Binance’s third security update, released just minutes ago, the coverage rate for losses resulting from the attack has increased from 80 percent in the previous announcement to 90 percent.
The exchange announced that all of its BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC assets are now fully covered.
The remaining 10 percent consists of altcoins with lower liquidity. Binance announced that it will continue to purchase these assets through market transactions and over-the-counter (OTC) purchases.
The company reiterated that it will bear all the financial losses resulting from the attack and ensure that users are not affected by the losses.
Binance announced it has activated various funding sources as part of its plan to cover losses exceeding $6.34 billion.
The exchange announced it will use a portion of its SAFU emergency fund, created to protect user assets. This transaction is expected to be completed within the next 24 hours.
The company also redirected a portion of its Futures Insurance Fund, created to cover potential losses in futures markets, to repurchase assets affected by the attack.
Binance added that only excess resources from the insurance fund exceeding the required security level were used, and that the fund was maintained above the minimum level established under risk management.
It was also pledged that the size of the SAFU fund would be increased back to approximately $1 billion.
In addition to these resources, the company aims to use its own corporate treasury to cover the full cost of the stolen assets.
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Binance announced that it has adopted a new Proof of Reserves (PoR) system to increase transparency regarding the status of user assets following the attack.
The reserve image, taken on October 31, 2026 at 03:00 Turkish time, was reportedly uploaded to Binance’s official Proof-of-Return (POR) page.
The exchange stated that preparing the zero-knowledge proof, which provides cryptographic verification of the reserves, takes approximately 40 to 50 hours.
Full verification data is expected to be released by Tuesday, November 3rd. This will allow users to independently verify that their holdings in the 10 cryptocurrencies mentioned in the announcement are matched at least one-to-one.
One of the most notable points in Binance’s announcement was the resumption of withdrawals, which had been temporarily suspended.
The company stated that security checks and infrastructure work are progressing as planned and that withdrawals are targeted to reopen on Sunday, November 1st.
Binance stated that the exact timeline has not yet been confirmed and that details regarding the resumption of trading will be shared through official channels.
On the other hand, the exchange reiterated that altcoin purchases are continuing for the as-yet-unmet 10% portion and that once the process is complete, the company will bear all financial losses resulting from the attack.
*This is not investment advice.
Continue Reading: BREAKING: Binance Issues Hot Announcement Regarding the Hack – When Will Withdrawals Resume, and Will Losses Be Compensated?
