Newshot Binance Announces $6.34 Billion in Stolen Assets Fully Replenished, Losses Will Not Be Passed On to Users
IT之家 November 13 news: Binance officially announced today that it has completed the replenishment of all affected digital assets from the previous security incident and published a new Proof of Reserves (PoR) snapshot.
The incident involved approximately $6.34 billion (IT之家 note: roughly RMB 42.388 billion at current exchange rates) in digital assets. Binance stated that the related losses will be borne by the platform and will not be passed on to users.
According to Binance's earlier official announcement, between October 29 and 30, 2026, the platform's hot wallet was attacked, and the attackers transferred approximately $6.34 billion worth of digital assets through unauthorized operations. Binance subsequently initiated asset replenishment work and used the Secure Asset Fund for Users (SAFU), the futures insurance fund, and the company's own funds to cover the related losses.
Binance completed a new round of PoR snapshots at 08:00 on November 12 (Beijing time), with coverage expanded to 198 tokens. Binance said the full zero-knowledge proof is expected to take approximately 40 to 50 hours to generate. Once the proof is complete, users holding the affected tokens will be able to independently verify whether their account assets are backed by reserves of at least 1:1.
In terms of funding sources, Binance mainly drew on three parts of funds this time, including part of the SAFU user asset security fund, the portion of the futures insurance fund exceeding the level required by the risk management framework, and the company's own funds. In addition, Binance promised to replenish the SAFU fund to approximately $1 billion (roughly RMB 6.686 billion at current exchange rates) to maintain its scale as an emergency protection reserve for users.
It should be noted that asset replenishment does not mean the stolen funds have been recovered. What Binance has completed is repurchasing the affected tokens with its own funds to protect user assets, rather than confirming that all the digital assets transferred by the attackers have been recovered.
According to data previously disclosed by Binance, as of November 3, approximately $2.85 billion (roughly RMB 19.055 billion at current exchange rates) of the assets involved had been frozen or intercepted, and the exact amount still needs further verification.
In addition, Binance said that the platform's withdrawal services are still being restored in phases, and that it will continue to strengthen security infrastructure and handle a small number of affected tokens that are no longer supported in accordance with the delisting process; users holding the relevant tokens will still receive asset protection.
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