Binance announced that customer withdrawals are stabilizing after a breach on October 29, 2026 that resulted in approximately $6.3 billion in unauthorized withdrawals. The exchange paused all withdrawals immediately and later resumed them in phases on November 1.
Asset Replenishment
Binance allocated more than $6.34 billion from its Secure Asset Fund for Users (SAFU) and Futures Insurance Fund to cover losses. By November 1, roughly 95% of the stolen assets—about $6 billion—had been restored. The exchange confirmed full backing for Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB and Zcash (ZEC).
Investigation and Recovery Efforts
Blockchain analytics firms TRM Labs and Chainalysis linked the attack to the TraderTraitor group, a state‑sponsored hacking unit tied to North Korea. Industry partners have frozen approximately $3 billion in traceable assets related to the hack, and the FBI has issued alerts flagging associated wallet addresses.
Market Reaction
Bitcoin fell to a six‑week low after the breach but recovered to trade above $78,000 by the following Monday, according to Reuters.
Outlook
Binance’s 95% replenishment aims to reassure users holding the major tokens mentioned. Ongoing monitoring will focus on whether outflows continue to stabilize, the eventual recovery of the frozen assets, and further actions by law‑enforcement agencies.
