Binance says it has replenished about 90% of stolen assets; users will not bear the losses

Binance released Security Incident Recovery Update No. 3 on October 31, 2026, saying the amount of stolen assets covered by the incident has risen from about 80% in the previous update to 90%. The company said that major assets including BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now 100% fully backed, and it is continuing to purchase the remaining related tokens through public markets and over-the-counter (OTC) channels until coverage of all tokens reaches 100%.

The incident occurred at around 20:05 (UTC) on October 29, 2026, when Binance’s hot wallet was compromised, resulting in about $6.3 billion worth of token assets being transferred without authorization. The company had previously internally set aside more than $6.34 billion in corporate funds to respond, of which about $5 billion is held in the exact affected tokens; another roughly $3 billion in stolen assets have been frozen on-chain with the assistance of industry partners. Binance clearly stated that it will absorb all financial impact itself, and users will not bear the losses.

The additional funding sources include partial use of the Secure Asset Fund for Users (SAFU) emergency reserve, which is expected to be completed within the next 24 hours, part of the futures insurance fund, and the company’s own treasury. The remaining roughly 10% consists of less liquid non-top-10 tokens, and it may take longer to complete their purchase. The company updated the Proof of Reserves snapshot at 00:00 (UTC) on October 31, 2026, and said it is still proceeding according to the previous timetable, with the goal of restoring withdrawal services on November 1.

Co-CEO Richard Teng said on X: We have now replenished 90% of the stolen assets and are committed to covering the remaining 10%. Our users will not bear the financial impact of this incident.

Original sources:

1. Title: Security Incident | Recovery Update #3: 90% of Stolen Assets Replenished; Proof of Reserves Snapshot Provided (2026-10-31) Publisher: Binance Publication date: 2026-10-31 URL: https://www.binance.com/en/support/announcement/detail/1fdf1f61559c401da0435895ffcccb62 Nature of source: official announcement Verification status: the full text was actually read this time (including the FAQ), verification date 2026-10-31 Supporting content: 90% coverage, 100% backing for major assets, funding sources (partial SAFU, futures insurance fund, company treasury), remaining 10% as low-liquidity tokens, PoR snapshot timing, goal of restoring withdrawals on November 1, promise that users will not bear losses

2. Title: We've now replenished 90% of the stolen assets... Publisher: Richard Teng (@_RichardTeng) Publication date: 2026-10-31 URL: https://x.com/_RichardTeng/status/2116538946188726474 Nature of source: first-hand post Verification status: the full original post and quoted content were actually read this time, verification date 2026-10-31 Supporting content: Richard Teng’s direct statement that 90% has been replenished, that he is committed to covering the remaining 10%, and that users will not bear the financial impact

3. Title: Binance says it has covered 90% of losses from $6.3 billion hack so far Publisher: Reuters Publication date: 2026-10-31 URL: https://www.reuters.com/legal/government/binance-says-90-stolen-assets-replenished-2026-10-31/ Nature of source: media report Verification status: the relevant passage was actually read this time, verification date 2026-10-31 Supporting content: cross-verification of the incident scale of about $6.3 billion, the 90% replenishment progress, and the details of fund usage (does not independently prove the official statement)