Binance: Has recouped approximately 80% of the stolen funds, expects to resume withdrawals in phases within 34 hours, and plans to conduct its first proof-of-reserves snapshot within 12 hours.

Binance released Security Incident Update Announcement #2 at 3:33 AM today, disclosing its 24-hour investigation and asset compensation progress. The announcement noted that at 04:05 UTC+8 on October 30, 2026, Binance’s hot wallet was hacked, resulting in losses of approximately $6.3 billion in token assets. Binance emphasized that it will fully cover all losses via its SAFU Fund and corporate capital, with no losses passed on to users. To date, Binance has secured over $6.34 billion in corporate funds: more than $5 billion equivalent in assets including USDC, USDT, BTC, ETH and BNB are already in place, around 80% of the stolen funds have been replenished, while the remaining portion is being acquired via market and over-the-counter (OTC) channels. Earlier, Binance froze roughly $3 billion in assets on-chain. Regarding the attack’s cause, Binance said initial probes pointed to a compromised laptop as a possible factor, but subsequent investigations uncovered additional intrusion vectors. No evidence of wallet private key leakage has been found so far, with further technical investigation results expected in approximately 48 hours. For next steps, Binance is targeting to restore withdrawal services in phases within around 34 hours, subject to security check progress; it plans to conduct its first Proof of Reserves snapshot within 12 hours, with results to be published by November 2. Additionally, Binance will continue collaborating with law enforcement agencies, blockchain intelligence firms and asset issuers to track and recover stolen funds, and will release a full technical review report.