CNA · 2026-10-31 17:21 UTC

Binance says it has covered 90% of losses from $6.3 billion hack so far

Binance says it has replaced 90% of the $6.3 billion stolen in a hack using company money to buy new tokens, with the remaining 10% consisting of less liquid assets. Co-CEO Richard Teng stated users will not bear the financial impact and the exchange plans to reopen withdrawals on Sunday. Binance funded the recovery using its $1 billion SAFU bitcoin reserve, Futures insurance fund, and corporate treasury, totaling $6.34 billion set aside.

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