{"id":5558,"date":"2026-11-01T10:30:56","date_gmt":"2026-11-01T10:30:56","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/01\/binance-replaces-90-of-stolen-6-3bn-as-withdrawals-set-to-resume-today\/"},"modified":"2026-11-01T10:30:56","modified_gmt":"2026-11-01T10:30:56","slug":"binance-replaces-90-of-stolen-6-3bn-as-withdrawals-set-to-resume-today","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/01\/binance-replaces-90-of-stolen-6-3bn-as-withdrawals-set-to-resume-today\/","title":{"rendered":"Binance replaces 90% of stolen $6.3bn as withdrawals set to resume today"},"content":{"rendered":"

Binance has revealed that it has covered 90% of the roughly $6.3 billion stolen in Thursday\u2019s hack, up from 80% in its previous update. The exchange says it plans to reopen withdrawals<\/a> today, 1st November.<\/p>\n

\u201cWe\u2019ve now replenished 90% of the stolen assets, and we\u2019re committed to covering the remaining 10%. Our users will not bear the financial impact of this incident,\u201d co-CEO Richard Teng said on X on Saturday.<\/p>\n

In its third and latest update, the company said the 10 largest tokens affected are \u201cfully backed 100%\u201d. These are BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC. The remaining 10% is in less liquid tokens outside that group, which may take longer to source.<\/p>\n

\n
\"Binance<\/figure>\n<\/div>\n

Where is the money coming from?<\/h3>\n

Binance says it used three sources: a partial deployment of its Secure Asset Fund for Users (SAFU), a portion of its Futures insurance fund, and its own corporate treasury. It later X post confirmed that the SAFU transfer is complete<\/a>, pointing to a large transfer of 7,499 BTC visible on the blockchain.<\/p>\n

SAFU is an emergency reserve set up in July 2018 for cases such as security breaches. It is held by Nest Clearing and Custody Limited, a clearing house regulated in Abu Dhabi. The crypto company says that it will replenish the fund to about $1 billion.<\/p>\n

The Futures insurance fund protects traders from deficit losses on bankrupt positions and limits forced liquidations, known as auto-deleveraging. <\/p>\n

Binance says it released only the amount above the fund\u2019s required size and that the remaining balance is a regulatory requirement. It says the fund remains above the required coverage level, though no exchange can completely avoid auto-deleveraging.<\/p>\n

Also read: North Korean-linked hackers steal $6.3 billion from Binance in biggest crypto heist ever<\/a><\/strong><\/p>\n

Withdrawals and proof of reserves<\/h3>\n

Binance suspended withdrawals after the attack, which it says began when its hot wallets were compromised at about 20:05 UTC on Thursday. It says deposits and other unaffected services have stayed operational.<\/p>\n

The exchange says withdrawals will reopen in phases. It had earlier said it expected to resume within 48 hours.<\/p>\n

The company has also published a new Proof of Reserves snapshot<\/a>, taken at midnight UTC on Saturday. The full zero-knowledge proof takes 40 to 50 hours to generate. It also says that holders of the 10 covered tokens will be able to verify at least 1:1 backing once it is done, which it estimates will be Tuesday. In an earlier update, it had said results would be ready by Monday.<\/p>\n

\n
\"Binance<\/figure>\n<\/div>\n

What Binance is yet to address <\/h3>\n

Binance\u2019s first assessment pointed to a compromised engineer\u2019s laptop. Its second update said further investigation \u201chas uncovered additional points of breach.\u201d Teng has described a \u201ccomplex attack\u201d involving a compromised laptop and malicious software designed to delete evidence. It says it has found no evidence that wallet private keys were leaked.<\/p>\n

About $3 billion of the stolen assets has been frozen on-chain, according to Binance. That is separate from the 90% figure, which reflects replacing assets and not recovering them.<\/p>\n

Binance\u2019s updates<\/a> do not name those responsible. TRM Labs and Chainalysis have linked the attack to North Korea, according to our earlier report<\/a>. The company says it expects to share further technical findings within about 48 hours of its second update and will publish a full post-mortem.<\/p>\n

Source: <\/p>\n

Technext<\/div>\n","protected":false},"excerpt":{"rendered":"

Binance has revealed that it has covered 90% of the roughly $6.3 billion stolen in Thursday\u2019s hack, up from 80% in its previous update. The exchange says it plans to… <\/p>\n","protected":false},"author":1,"featured_media":5559,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-5558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/5558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=5558"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/5558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/5559"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=5558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=5558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=5558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}