Binance covers 90 per cent of assets stolen in $6.3 billion hack

Show caption: The exchange said withdrawal services for users are expected…

The hack has been described as the single biggest theft of crypto on record

The National

October 31, 2026

• Binance has covered 90 per cent of the $6.3 billion stolen in what is the largest cryptocurrency theft on record.
• Funds to cover losses will be drawn from three sources: the SAFU fund, a futures insurance fund and Binance's corporate treasury.
• The remaining 10 per cent consists of less liquid tokens, which may take longer to source in the required amounts.
• Withdrawal services for users are expected to resume on 1 November, following the hack that began at 12.24am UAE time on 30 October.
• Bitcoin shares tanked after the news, and have now fallen to about $76,450, data from CoinMarketCap shows.

Cryptocurrency exchange Binance said on ​Saturday that ​it has ​been able to cover ⁠90 per cent of the amount stolen after ⁠a record $6.3 billion hack ​of its platform.

In a status update posted to its website, Binance said that the amounts to cover the stolen funds would come out of three sources: a partial deployment of the Secure Asset Fund for Users (SAFU), a portion of the Futures insurance fund and Binance's own corporate treasury.

Users were also invited to check balances of the first two funds online.

The outstanding 10 per cent consists of tokens that are less liquid, which means they may take longer to source in the required amounts, the company added.

The exchange said withdrawal services for users are expected to resume on November 1, with further details to be confirmed later.

What happened?

Binance Holdings, the world's largest cryptocurrency exchange, lost an estimated $6.3 billion to hackers early on Friday, in what has been described as the single biggest theft of crypto on record, exceeding the $1.5 billion stolen from Bybit in February 2025.

Funds began leaving Binance's hot wallets, which are connected to the internet to process customer withdrawals, at about 12.24am UAE time on October 30. A single transaction moved roughly 167,464 Ether, worth about $388 million, along with 63 other tokens, to an address created hours earlier and funded through the Tornado Cash mixing service, according to Etherscan data.

Bitcoin shares tanked after the news, and have now fallen to about $76,450, data from CoinMarketCap shows.

Updated:

October 31, 2026, 5:02 PM