Binance Reports 90% of Hack-Stolen Assets Replenished, Withdrawals Due to Reopen 1 November
Binance said on Saturday, 31 October 2026, that 90 percent of the assets stolen from its customers in a hack have been replenished. The company's CEO gave the figure, and Recovery Update #3, published the same day under the headline "90% of Stolen Assets Replenished," stated that a proof-of-reserves snapshot had been provided. The theft totalled $6.3 billion, which the BBC converted to £4.7 billion.
According to Reuters, Binance has covered $6 billion of the $6.3 billion. In a separate post on its official X account, the exchange said it had set aside more than $6.34 billion in company funds to cover losses from the hack. The CEO said the remaining 10 percent is planned to be covered as well. That portion consists of less liquid tokens, which may take longer to acquire, so the company has not yet completed that step. Binance said it is covering the stolen funds directly and will fully cover the financial impact of the incident.
Withdrawals remain paused. Binance said it is on track to reopen withdrawals on Sunday, 1 November 2026. That date is a company target, and the update does not describe the reopening as complete.
Bloomberg reported on 30 October that $3 billion in crypto tied to the hack had been frozen, and that the heist had drawn FBI scrutiny. The Globe and Mail described the $6.3 billion theft as a record hack. Binance is the world's largest cryptocurrency exchange, according to the BBC, so the scale of customer funds affected by any withdrawal freeze is correspondingly large.
A proof-of-reserves snapshot is a point-in-time record that lets outside parties compare an exchange's holdings with its liabilities, meaning what it owes customers. Ninety percent of $6.3 billion is roughly $5.7 billion, while the Reuters figure of $6 billion implies about 95 percent. The two measures may reflect different accounting dates, asset valuations or definitions of "replenished." Practitioners will want the snapshot's methodology, not only its headline totals.
In my view, the more useful question for engineers and risk teams is what the recovery process shows about custodial exposure. A hot wallet, meaning an internet-connected wallet that handles routine withdrawals, is the most exposed store of funds, and a well-capitalised operator with reserves on hand can absorb a compromise of that kind. The sequence of freezing, covering, reconciling and reopening still determines when individual customers regain access. For users, the practical measure is whether the Sunday reopening happens on schedule.
If the reopening proceeds as planned, customers will regain withdrawal access at the world's largest exchange, backed by a stated commitment to cover the full financial impact. The remaining 10 percent and the outcome of the FBI inquiry are the open threads.
