On October 31, Binance announced that the replenishment ratio of stolen assets has increased from approximately 80% to 90%. The company has previously allocated over $6.34 billion of its own funds to cover the losses caused by this security incident. Currently, BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC have achieved 100% full reserve support. The sources of the replenishment funds include part of the SAFU user asset security fund, part of the contract insurance fund, and the company's own funds, with the remaining balance of the contract insurance fund retained as required by regulators. The approximately 10% of assets that have not yet been replenished consist of other tokens outside of the aforementioned ten, which may take longer to acquire due to relatively low liquidity. Binance is continuing to repurchase through market and OTC channels. A new round of Proof of Reserves (PoR) snapshot was completed at 08:00 Beijing time on October 31, and the relevant data has been updated on the official website. Binance stated that the generation of zero-knowledge proofs is expected to take 40 to 50 hours, with the complete proof expected to be provided on November 3 (UTC). Holders of the aforementioned ten tokens will be able to verify for themselves whether their assets have at least 1:1 full reserve support. Binance reiterated that it will fully bear the financial losses caused by the theft, rather than passing them on to users. The restoration of withdrawal services is progressing as planned and is expected to resume on November 1, with specific arrangements to be announced separately.
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Binance Completes Approximately 90% Asset Replenishment and New Reserve Proof Snapshot
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Binance: Approximately 80% of Stolen Funds Recovered, Withdrawal Services to Resume in Phases Within 34 Hours, Initial Reserve Proof Snapshot Planned Within 12 Hours
On October 31, Binance released a security incident update at 3:33 AM, disclosing the progress of investigations and asset compensation over the past 24 hours. The announcement stated that on October 30, 2026, at 04:05 (UTC+8), Binance's hot wallet was attacked, resulting in a loss of approximately $6.3 billion in token assets. Binance clearly stated that it will fully cover the losses through the SAFU fund and its own funds, without passing the losses onto users. Currently, Binance has prepared over $6.34 billion in company funds, with more than $5 billion equivalent in assets such as USDC, USDT, BTC, ETH, and BNB already in place, and about 80% of the stolen funds have been replenished, with the remaining portion being purchased through market and over-the-counter trading channels. Previously, Binance had frozen approximately $3 billion in assets on-chain. Regarding the cause of the attack, Binance indicated that initial investigations suggested the incident might involve an infiltrated laptop, but subsequent investigations revealed other points of intrusion. No evidence of wallet private key leakage has been found, and further technical investigation results are expected to be released within approximately 48 hours. In terms of follow-up arrangements, Binance is working to resume withdrawal services in phases within approximately 34 hours, depending on the progress of security checks; it plans to conduct the first reserve proof snapshot within 12 hours and publish the results before November 2. Additionally, Binance will continue to collaborate with law enforcement agencies, blockchain intelligence firms, and asset issuers to track and recover the stolen funds, and will release a complete technical review report. -
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