Binance Restores 90% of Stolen Crypto and Plans to Reopen Withdrawals Sunday

Binance says it has now bought back about 90% of the assets taken in Thursday’s $6.3 billion hack, up from roughly 80% in its last update. The exchange expects to reopen withdrawals on Sunday, November 1. It states that users will not carry the loss, and that holdings of bitcoin, ether, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are fully backed again. The remaining 10% covers less liquid tokens, which Binance is buying on public markets and through private trades with industry partners.

How Binance Is Paying for the Losses

The money comes from company funds, with more than $6.34 billion set aside, including $5 billion held in the affected coins. Part of its futures insurance fund will also be used, along with a partial release of the SAFU emergency reserve within 24 hours. Binance says it only moved the amount above the fund’s required level and plans to rebuild SAFU to about $1 billion. A new proof of reserves snapshot shows coverage of 100% or more for the named tokens.

Investigation and Attribution

The probe is still open. Co-CEO Richard Teng said investigators found more breach points beyond a suspected compromised employee laptop. TRM Labs and Chainalysis link the attack to a North Korean group called TraderTraitor, though President Donald Trump said “we don’t know” and that officials are looking into it.