Binance Recovers 90% of Stolen Assets; Withdrawals Set for Sunday

Recovery Progress

Binance has announced that it has replenished 90 percent of the cryptocurrency assets lost during a security breach on October 29. The exchange confirmed that it will absorb the financial impact of the theft, ensuring that customers do not bear the losses.

Operational Updates

• Asset Backing: Ten major cryptocurrencies, including Bitcoin, Ethereum, Tether, and BNB, are now fully backed at 100 percent.
• Withdrawal Schedule: The platform remains on track to resume withdrawal services on Sunday, November 1.
• Asset Procurement: Funds are being replenished using the corporate treasury, futures insurance fund, and the Secure Asset Fund for Users (SAFU).

Verification and Security

To maintain transparency, Binance has conducted a new Proof of Reserves (PoR) snapshot as of 00:00 UTC on October 31. Users are encouraged to utilize this mechanism to verify that their balances are supported by adequate reserves. While blockchain intelligence firms have attributed the breach—involving approximately $6.3 billion—to North Korean state-backed actors, Binance has stated it has not independently confirmed the identity of the perpetrators. Users should monitor official Binance channels for the latest status on withdrawal restoration.