Binance says it has replaced 90% of the cryptocurrency assets stolen in a $6.3 billion hack and remains on course to reopen withdrawals on Sunday. The exchange says customers, rather than users, will bear no financial loss, although less-liquid tokens are still being purchased and independent verification of the replacement assets is not yet complete.
Binance outlines funding for replacement assets
The exchange is using several internal sources to rebuild the affected balances: its corporate treasury, part of the Secure Asset Fund for Users, known as SAFU, and a portion of its futures insurance fund. Binance has not disclosed how much each source contributed or the insurance fund’s minimum required balance.
A spokesperson told Cointelegraph that the insurance fund would remain above the levels required by its risk-management framework. Binance had previously said it allocated $6.34 billion to cover the incident, including $5 billion in the cryptocurrencies directly affected.
The company said customer balances in Bitcoin, Ether and eight other assets are fully backed. The remaining deficit is concentrated in tokens with lower liquidity, which Binance is continuing to obtain through ordinary market purchases and over-the-counter transactions.
Withdrawals and verification remain in focus
Binance’s latest estimate marks an increase from the 80% replacement level reported one day earlier. The exchange has indicated that withdrawals could resume on Sunday, although the source material does not specify how much of the service would be available at that point.
The company has published a new snapshot of its reserves, but said its complete cryptographic proof is still being produced. Binance estimates that generating the zero-knowledge proof will take about 40 to 50 hours because of the computational workload.
CertiK said it needed additional information to verify Binance’s earlier claim that $5 billion in replacement cryptocurrencies had been secured. Binance also has not quantified how much of the stolen cryptocurrency has been recovered, leaving a distinction between assets retrieved from the attackers and assets bought or otherwise allocated to restore customer balances.
Scale of the incident
The theft occurred on Thursday and has been described as the largest cryptocurrency hack on record. Blockchain intelligence firm TRM Labs attributed it to North Korea’s TraderTraitor hacking group.
After the attack, Tether and Circle froze approximately $3 billion in affected assets. Those frozen funds are separate from Binance’s own effort to replace the stolen tokens and therefore do not represent part of the exchange’s reported replenishment program.
The episode highlights the importance of both liquidity and proof of reserves during a major exchange disruption. Replacing highly traded assets can be faster than sourcing thinner-traded tokens, while cryptographic verification is intended to provide evidence that reported reserves exist. Binance’s full proof remains pending.
Moneyiar market picture
Moneyiar market data at 12:33-12:34 p.m. on November 1, 2026, showed BNB at $711.8666, up 1.08% over 24 hours but down 3.64% over seven days. SUN was $0.0152914, down 3.77% in 24 hours and 5.75% over seven days. ENS traded at $4.8955, down 1.14% and 6.79%, respectively. AKE stood at $0.0091261, falling 23.44% in 24 hours and 68.59% over seven days.
