Binance Covers $6.34 Billion Hack Losses from Own Reserves Without External Funding

Binance has revealed that it managed to recover user losses from a significant security breach amounting to $6.34 billion entirely from its own balance sheet. The exchange made this announcement on October 31, 2026, assuring users that they would not incur any losses due to the hack.

The recovery funds were sourced from three internal reserves: the Secure Asset Fund for Users (SAFU), a portion of the futures insurance fund, and the company’s own reserves. Binance confirmed that no external borrowing or asset sales were necessary for this recovery.

As of November 1, 2026, Binance reported that approximately 90% of the financial impact from the hack had been replenished, an increase from earlier estimates of around 80%. Notably, ten specific assets, including Bitcoin, Ethereum, and Tether’s USDT, have achieved full reserve backing.

For assets that are not yet fully covered, Binance has committed to purchasing additional tokens on the open market. The exchange has not set a specific deadline for completing this replenishment.

In a bid to enhance transparency, Binance published a new Proof of Reserves snapshot on October 31, 2026, with full zero-knowledge proofs expected to be released on November 3, 2026. This cryptographic method will allow users to verify that their balances are included in Binance’s liabilities without revealing individual account details.

The hack is noted as one of the largest in Binance’s history, and the exchange’s proactive approach to covering user losses contrasts with a broader industry trend where losses are often distributed among users.