Binance replenishes 90 per cent of assets stolen in cyberattack
The cryptocurrency exchange aims to resume user withdrawal services on Sunday, November 1, following the theft of approximately $6.3 billion.
Binance has replenished 90 per cent of the digital assets stolen during a cyberattack on October 29-30, according to reports from Business Standard, Financial Express and Business Today. The breach, which affected hot wallets across 10 to 11 blockchains including Bitcoin and Ethereum, resulted in an estimated loss of $6.3 billion to $6.4 billion.
The exchange is using its corporate treasury, a portion of its Futures Insurance Fund and its Secure Asset Fund for Users (SAFU) to cover the losses. Binance stated that reserves for 10 major cryptocurrencies, including Bitcoin, Ethereum, BNB, Solana, XRP, Tether, USD Coin, USD1, RLUSD and Zcash, have been fully replenished.
The remaining 10 per cent consists of tokens outside the top 10 which have lower liquidity. Binance said it is purchasing these remaining assets through market transactions and over-the-counter channels with the help of industry partners.
The company said its next priority is to restore withdrawal services, which it expects to resume on Sunday, November 1, 2026. Binance also committed to restoring the SAFU fund to approximately $1 billion to maintain its emergency reserve.
A fresh Proof of Reserves snapshot was taken on October 31. The exchange expects the full zero-knowledge proof to be available by November 3, once the 40 to 50 hours required for computation are complete.