Binance Recovers 80% of Stolen Funds, Withdrawals to Resume in Stages Within 34 Hours

Binance Updates on Security Incident, Aims for Phased Withdrawal Resumption Within 34 Hours

Taipei, Taiwan – October 30, 2026 – Binance, the global cryptocurrency exchange, has provided an update on its recent security incident, stating that approximately 80% of the $6.3 billion in stolen assets has been recovered. Co-CEOs He Yi and Richard Teng announced in an update released early Tuesday morning, Taiwan time, that withdrawals are expected to resume in phases by currency within approximately 34 hours. The first proof-of-reserves snapshot is scheduled to be conducted within 12 hours.

The exchange reiterated its commitment to fully compensate users for any losses incurred due to the hack, utilizing the SAFU (Secure Asset Fund for Users) and the company’s own capital. Binance emphasized that the financial burden will not fall on its users. The company has reportedly secured over $6.34 billion in funds to cover the losses, with more than $5 billion in equivalent tokens, including USDC, USDT, BTC, ETH, and BNB, already in place.

This $5 billion represents approximately 79% of the $6.3 billion loss, aligning with the stated “approximately 80%” recovery. The remaining 20% of the stolen tokens are being acquired by Binance through public market and over-the-counter (OTC) channels.

On-chain frozen amounts remain at approximately $3 billion, consistent with figures released on the afternoon of October 30. Binance stated it is collaborating with law enforcement agencies, blockchain intelligence firms, token issuers, and other exchanges to track down the stolen funds.

The technical team is working diligently to resume withdrawals within the previously announced timeframe of approximately 34 hours, contingent upon the completion of security checks. Withdrawals will be reinstated in phases by token, with users to be notified at each stage.

Based on the timing of the Chinese announcement, the 34-hour window suggests a withdrawal resumption around 1:30 PM on Sunday, November 1. This aligns closely with Binance’s earlier announcement on the afternoon of October 30, which projected withdrawal resumption within 48 hours, pointing to around 12:30 PM on the same day. Deposits and other unaffected services are operating as usual.

Binance plans to conduct its first proof-of-reserves (PoR) snapshot within 12 hours and expects to publish the results by Monday, November 2. This would place the snapshot around 3:30 PM Taiwan time on October 31. The report will detail the platform’s latest assets and their corresponding reserves against user balances, allowing users to verify their account holdings.

The announcement also reiterated that initial investigations pointed to a single laptop compromise, with subsequent findings revealing additional intrusion points. However, no evidence of private key compromise has been found. The nature of these additional intrusion points remains undisclosed.

Binance anticipates releasing further technical investigation results within approximately 48 hours, provided the findings are verified and their disclosure will not impede the ongoing investigation. A comprehensive post-mortem report detailing the incident and implemented security enhancements will follow. The exchange cautioned that verified information will only be disseminated through official channels.

Binance Withdrawal Resumption Timeline

Binance anticipates a phased resumption of withdrawals by currency within approximately 34 hours, projected for Sunday afternoon, November 1, Taiwan time. Deposits will continue to operate normally.

Progress on Asset Compensation

Binance has prepared over $6.34 billion in company funds, with more than $5 billion in equivalent tokens already secured, covering approximately 80% of the stolen assets. The remaining 20% is being acquired through market and OTC channels.

Co-CEO Richard Teng on Withdrawal Resumption and Proof-of-Reserves

Binance Co-CEO Richard Teng indicated that exchange withdrawals could reopen within 40 hours, with a proof-of-reserves report expected on Monday.

Binance Begins Recovering Stolen Assets, $5 Billion in Tokens Ready

Binance has commenced the process of recovering stolen assets, with $5 billion in corresponding tokens prepared and in place.

He Yi Addresses Incident in Video, Citing “Highly Complex, Multi-Pronged Attack”

Co-CEO He Yi released a four-minute video addressing the incident, describing it as a “highly complex, multi-pronged attack” and confirming that the exchange will use its own funds for initial compensation.