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.
