Binance recovers 90% of funds after record $6.3 billion hack

Binance has covered 90% of losses from a record $6.3 billion cyberattack, moving closer to restoring normal operations while assuring customers their assets remain safe. The exchange replenished affected holdings using its SAFU reserve, Futures insurance fund, and corporate treasury, and will continue buying remaining assets until all stolen funds are replaced. A Proof of Reserves snapshot dated October 31, 2026, will verify 1:1 backing by November 3, with withdrawals resuming Sunday. Around $3 billion in stolen assets may be frozen across exchanges, though recovery is unconfirmed. US authorities, including the Secret Service, are investigating, and Binance co-CEO Richard Teng stressed hackers targeted corporate holdings, not individual accounts.