Binance Says It Has Covered 95% of Losses After $6.3 Billion Hack

Binance says it has restored backing for about 95% of the assets hit by the breach and is now phasing crypto withdrawals back on after the shutdown. For high-risk operators, the useful part is not the headline number but the mechanics: a mix of corporate funds, the futures insurance fund, and SAFU is doing the heavy lifting.

1. In its latest update on 1 November 2026, Binance said the attack led to the theft of about $6.3 billion in crypto assets, and that recovery of the affected collateral has now reached 95%. The figure was 90% on 31 October and about 80% in the previous update.
2. The exchange said full backing has been restored for ten assets: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC. The remaining 5% is tied up in less liquid tokens, which Binance says take more time to source in the required size.
3. Binance said it is continuing to buy those tokens on the open market and through OTC (over-the-counter) trades. In other words, the clean-up is not finished just because the percentage looks comfortable on paper.
4. Withdrawals are being brought back in stages after additional security checks. The first phase covers selected assets across 15 blockchain networks, including Bitcoin, Ethereum, BNB Smart Chain, Solana, Tron and XRP Ledger, with availability dependent on the specific asset and network.
5. Binance previously said it had set aside more than $6.34 billion to cover the fallout from the hack. The company said those funds come from corporate resources, part of its futures insurance fund, and SAFU, and it intends to rebuild SAFU to about $1 billion.

Binance also said its Proof of Reserves (PoR) update on 31 October showed the ten main affected assets restored to at least 1:1 backing, with full cryptographic reserve verification expected by 3 November. The investigation is still ongoing, and Binance said it will publish a detailed report after it is complete.