Binance Says 90% of Assets Affected by $6.3B Hack Are Replenished

Binance says it has replenished 90% of the assets affected by this week’s roughly $6.3 billion security breach, a rise from the 80% coverage it reported a day earlier. The figure marks progress in the exchange’s effort to make customers whole, but it does not mean that 90% of the stolen cryptocurrency has been recovered from the attackers.

In a 31 October update, Binance said ten major assets, including Bitcoin, Ether, Tether, BNB, Solana and USDC, were fully backed again. The remaining gap concerns less liquid tokens, which the company says it is sourcing through market purchases and over-the-counter transactions. Its account of the replenishment has not yet been accompanied by the complete cryptographic reserve proof it has promised.

The distinction between replacement and recovery matters. Binance is using its own resources to restore assets corresponding to those affected by the breach. That is different from tracing and retrieving the original funds from the people who stole them. For customers, the practical questions are whether their balances are fully covered and when they can move their money again.

The exchange said it has drawn, or plans to draw, on corporate treasury funds, excess funds from its futures insurance fund and part of its Secure Asset Fund for Users, known as SAFU. It also said SAFU would be rebuilt to approximately $1 billion. In its previous update, Binance said it had reserved more than $6.34 billion in company funds, including $5 billion already held in affected token assets. That earlier announcement put coverage at 80%.

The latest statement says the ten largest affected assets are now 100% backed, but it does not provide a completed public verification of the whole reserve position. Binance has posted a proof-of-reserves snapshot taken at 00:00 UTC on 31 October. It says generating the full zero-knowledge proof will take roughly 40 to 50 hours, with publication expected on Tuesday, 3 November. A snapshot and a finished proof are not interchangeable, and readers should treat the 90% figure as the company’s reported position until more evidence is available.

Withdrawals were still paused when Binance issued its update. The company said it was aiming to resume them on Sunday, 1 November, subject to its recovery work. That is a target, not confirmation that customers can withdraw already. The moment withdrawals restart, the scope of any restrictions and the treatment of the remaining tokens will be more useful tests of recovery than the headline percentage alone.

The breach has also raised questions about how privileged access was controlled. Binance’s preliminary account pointed to a compromised DevOps laptop, while stablecoin issuers froze some assets after the theft. TechBooky has examined what the incident says about DevOps security and reported the exchange’s initial $6.34 billion reserve commitment. Those are separate from the question now facing users: whether Binance can complete the remaining coverage and demonstrate it transparently.

For an exchange of Binance’s size, replacing most of the affected assets within days is significant. The unfinished 10%, the pending proof and the withdrawal pause mean the recovery story is still developing. TechBooky will follow the verification and reopening announcements before treating the matter as resolved.