What Binance has said

This was not carried out by one person.

The replenishment employed: - A partial deployment of the Secure Asset Fund for Users (SAFU). This is expected to happen over the next 24 hours; users can view the updated balance here. - A portion of our Futures insurance fund. The remaining balance of the Futures insurance fund is a regulatory requirement. Users can check the updated balance of the fund here. - Binance's own corporate treasury.

we have taken a new Proof of Reserve (PoR) snapshot at 2026-10-31 00:00 (UTC), and this has already been updated on the PoR website.

The full zero-knowledge proof takes approximately 40 to 50 hours to generate due to the computational workload, so users holding any of these ten tokens can independently verify that their assets are at a minimum 1:1 backed once the full proof is generated, estimated to be by Tuesday, 2026-11-03 (UTC).

The outstanding 10% consists of tokens outside the top ten listed above.

SAFU is an emergency reserve fund established by Binance in July 2018 to protect user assets in extreme cases, such as security breaches or platform-level incidents. Binance allocated a percentage of trading fees to grow the fund to a substantial level over time. The SAFU fund is held and managed by Nest Clearing and Custody Limited, a Recognized Clearing House regulated by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority. A portion of the funds serves as capital reserves as part of Binance regulatory obligations in the ADGM.

Our last update explained that Binance had set aside more than $6.34B in company funds to cover hacked losses, and we had already covered approximately 80% of the impacted amount of the hacked loss at that time. That covered amount is now up to 90%.

All BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are fully backed 100%.

We remain on track to reopen withdrawals within our previously stated timeframe (on Sunday, 2026-11-01) and will provide a further update as soon as details are confirmed.

Binance is committing to replenishing the SAFU to return the fund size to approximately US$1 billion.

The Futures Insurance Funds remain above the coverage level required under Binance’s established risk-management framework, helping ensure the fund remains available to support users during extreme market conditions. We monitor fund size continuously against historical stress scenarios reflecting extreme but plausible market conditions, and top it up when required. Due to volatility, no exchange can completely avoid auto-deleveraging, but we always strive to keep occurrences to a minimum. Will Binance replenish the Futures Insurance Funds? The funds are maintained above their required size. When the balance falls below the level our framework requires, Binance tops them up from company funds, as we have done previously. What was released was excess above that level, which is why it could be reallocated without affecting coverage.

The spokesperson’s statement did not specify how much each funding source contributed or disclose the insurance fund’s minimum required balance.

Binance has consistently pledged to cover 100% of the losses from what is suspected to be crypto's biggest hack on record and said it has set aside more than $6.34bn in company funds to do so.

"Binance will absorb the financial impact of these stolen funds, not our users," the company said in a statement on Saturday.

In an update on Sunday, Binance said withdrawals had been restored on several of its networks, after they were suspended following the hack.

Binance said it had replenished the stolen assets using various funds and its own corporate treasury.

All holdings of the cryptocurrencies bitcoin, Ethereum and Tether are covered, along with seven other widely-traded crypto assets, the company said.

Binance's initial investigation suggested an engineer's laptop was compromised, which allowed access to unauthorised withdrawals, but a later update said they had uncovered "additional points of breach".

Richard Teng, Binance's co-chief executive officer, said the hack was carried out by more than one person, and the hackers used sophisticated methods to hide their tracks, such as a "self-destruct mechanism".

On Friday, the company said it had frozen around $3bn of stolen assets after working with law enforcement, intelligence firms and partners.

Binance is preparing to resume phase one of withdrawals on 2026-11-01 between 06:00 and 09:00 (UTC).

Binance has now covered approximately 95% of the impacted amount, up from 90% in our prior update. The outstanding 5% are tokens outside the top ten listed above, and are less liquid in the market and take longer time to source at the required scale.

Our commitment remains unchanged: Binance will bear the financial impact of the stolen funds. These losses will not be passed on to users.

Once the investigation is complete, we will publish a post-incident report with further details on the incident.

Deposit services remain open and are not affected by the incident.