Binance Replenishes 90% of Assets After $6.3 Billion Hack
Binance says it has replenished 90 percent of assets stolen in a hack with an estimated impact of $6.3 billion and will cover the remainder. The exchange said…
Binance CEO says 90 percent of stolen assets have been replenished after a hack estimated to have affected $6.3 billion in crypto, with the exchange pledging to cover the rest. Binance said withdrawals were still paused but on track to resume on Sunday, November 1, 2026.
The remaining 10 percent involves tokens that are less liquid and may take longer for the company to acquire. Binance said it would cover the stolen funds directly, while users await the return of withdrawal services.
When will Binance withdrawals resume?
Binance said it remained on track to reopen withdrawals on Sunday, November 1, 2026. The company said it would provide another update once details were confirmed.
The exchange described resuming withdrawals as its next milestone after reporting progress on replacing the stolen assets. Until withdrawals reopen, customers remain unable to move funds through the paused service.
What happens to the remaining stolen assets?
Binance said it would cover the outstanding portion, which consists of less liquid tokens. That description matters because those assets may take longer to acquire than tokens that are easier to trade.
The company said its commitment was to cover the full financial impact of the incident. It also said it would demonstrate that commitment through progress, reporting and concrete actions.
The incident has renewed attention on what happens when crypto held through an exchange is stolen. Unlike bank deposits covered by a government-backed insurance system, customers’ recovery can depend on an exchange’s reserves, any insurance it holds and whether it chooses and is able to repay them.
Cybersecurity expert Nikolas Behar, a professor at the University of San Diego, said customers should distinguish a company pledge from an actual payment. A promise to reimburse users does not itself guarantee that compensation will arrive.
Josephine Wolff, a professor of cybersecurity policy at The Fletcher School at Tufts University, said crypto assets do not have legal protections equivalent to FDIC insurance. Customers might try to sue an exchange over negligence or recover funds during bankruptcy proceedings, she said, but compensation is not guaranteed.
Michael Tanguma, co-founder and CEO of Onramp Bitcoin, said exchanges often repay customers after a hack because they choose to do so and have the money available. He added: “Nothing in the law requires it to.”
Binance’s security update said about $3 billion of the stolen assets had been frozen. The exchange said it was committed to covering the remaining 10 percent of the losses.
