Binance Says It Has Covered 90% Of $6.3 Billion Hack Loss
Binance said on October 31, 2026 that it has replenished 90% of the roughly $6.3 billion (about 990 billion yen) taken in an attack it disclosed a day earlier, and that withdrawals suspended as a precaution have resumed.
1 source 9m ago
Reporting from 1 source: GIGAZINE.
Why it matters
The disclosure puts a recovery timetable and a proof-of-reserves snapshot behind a nine-figure-scale loss, which is the part customers and regulators will check against the exchange's own numbers.
Key Facts
- Binance estimated damages from the attack at approximately 6.3 billion dollars, or about 990 billion yen.
- Binance said on October 31, 2026 that 90% of the funds had been replenished and withdrawals had resumed.
- The initial investigation suggested a DevOps engineer's laptop was compromised and used to send fraudulent withdrawal transactions.
- Binance secured more than 634 million dollars in internal funds toward covering the losses.
- Binance CEO Richard Teng said users will not bear any financial impact from the incident.
The exchange traced initial access to a compromised DevOps engineer's laptop. Binance has secured more than $634 million in internal funds toward the coverage.
Binance put a figure on the hole within a day of finding it. The exchange said the attacker reached a service container through a compromised DevOps engineer's laptop and sent fraudulent withdrawal transactions, with damages estimated at about $6.3 billion. It revoked approvals to affected addresses, brought in law enforcement and blockchain analysis partners, and halted deposits and withdrawals until security verification finished.
Coverage came from more than $634 million of internal funds, with the rest to be bought through market and OTC channels. Binance says BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are fully backed, and it is publishing an updated proof-of-reserves snapshot alongside the withdrawal restart.
Written with AI by Yomimono from the 1 cited source below, including Japanese-language reporting where cited. See our editorial policy.
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