Binance says it has replaced roughly 90 percent of the cryptocurrency stolen in this week’s record-breaking security breach, putting the exchange close to its promise that customers will not absorb the loss. The company has committed to covering the remaining shortfall too, even though the tokens still outstanding are harder to source. Binance’s latest recovery update marks a dramatic shift from the uncertainty that followed the $6.3 billion theft.
The exchange says it has set aside more than $6.34 billion in corporate funds for reimbursement. Its official update says approximately 80 percent of affected assets had been replenished in an earlier accounting, rising to 90 percent by October 31. Binance is buying replacement tokens through both market purchases and over-the-counter channels rather than claiming that it has recovered the stolen coins from the attackers. The company’s published asset-replenishment notice says the financial impact will be borne by Binance, not its users.
That distinction matters: “replenished” means Binance is restoring the backing for customer balances, not necessarily retrieving the original cryptocurrency. Reuters reported that the remaining 10 percent consists largely of less-liquid tokens, which can take longer to acquire in the quantities needed. Co-CEO Richard Teng said users would not bear the incident’s financial impact. Reuters’ coverage also identifies the replacement effort as a company-funded response to the breach.
Binance has also listed a group of major assets—including Bitcoin, Ether, Tether, BNB, Solana, USD Coin, XRP, USD1, RLUSD, and Zcash—as fully backed in reserves. That public snapshot is intended to reassure customers while the exchange continues purchasing the harder-to-find tokens and works toward 100 percent replenishment.
The immediate customer-facing issue is access. Binance paused deposits and withdrawals after the attack, then said it was targeting Sunday, November 1, for a phased reopening. That timetable has now begun: withdrawals were first restored for Bitcoin, followed by Ethereum and BNB Smart Chain networks, according to CNBC’s latest update.
For the wider crypto industry, the incident puts exchange reserves, emergency insurance pools, and corporate solvency back under the microscope. Binance says it is using its Secure Asset Fund for Users, a portion of its futures insurance fund, and its corporate treasury to make customers whole. The next test will be whether the phased withdrawal rollout remains stable—and whether Binance can acquire the remaining illiquid tokens without creating additional market stress.
