Binance says it has covered approximately 95% of the financial impact of the Binance hack, according to its November 2, 2026 recovery update. The exchange previously estimated the stolen token assets at approximately $6.3 billion. However, the remaining 5% still involves tokens the company is working to acquire, and withdrawals are returning in stages.
In the latest update, Binance also says it has completed a zero-knowledge proof for a reserves snapshot taken on October 31 at 00:00 UTC. The verification covers ten named tokens. It does not describe a completed replacement of every affected asset.
What Binance says it has covered
The exchange says the outstanding 5% consists of tokens outside its top-ten list. Those assets are less liquid and take longer to source at the required scale. Binance says it is continuing acquisitions with industry partners.
Meanwhile, Binance maintains its commitment to absorb the financial impact of the stolen funds. In its October 30 incident update, it said coverage would come from the Secure Asset Fund for Users, or SAFU, and its corporate treasury.
That earlier update said Binance had set aside more than $6.34 billion in company funds. At that point, Binance held $5 billion in the affected token assets, covering approximately 80% of the impacted amount. The November 2 update places coverage at approximately 95%.
Binance reports replacement purchases separately from efforts to recover stolen assets. In its October 30 statement, Binance said law enforcement and industry partners had helped it freeze approximately $3 billion on-chain. That was a frozen-assets figure at the time, rather than a statement that the money had all returned to Binance.
Proof of reserves covers ten tokens
Binance lists BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC as fully backed. It says holders of these ten tokens can verify minimum one-to-one backing for their balances in the October 31 snapshot. The company points users to the verification tool on its Proof of Reserves website.
For that process, Binance says users need to log in to their accounts and download its verifier tool to a computer. It also tells users to use only the official Binance website, keep login information private and avoid untrusted devices.
Additionally, Binance plans a snapshot covering more tokens on November 4. It estimates the subsequent zero-knowledge proof will take approximately 40 to 50 hours to generate. Both the snapshot and that completion period remain company plans and estimates.
Binance plans more withdrawals for November 3
The November 2 announcement says Binance is working to resume withdrawals for additional networks and assets. It plans the next phase for November 3, describing a progressive rollout with details to follow. This is a planned expansion of access, rather than confirmation that all withdrawals have reopened.
For context, Binance’s October 30 statement dated the hot-wallet compromise to around 20:05 UTC on October 29. It estimated the loss at approximately $6.3 billion in token assets and said it would cover the stolen funds.
