Binance, the world's largest cryptocurrency exchange, said on Saturday, Oct. 31, it had replaced 90% of the cryptocurrency stolen in a $6.3 billion breach, according to a CoinDesk report.
The exchange said it remains on track to reopen withdrawals on Sunday, Nov. 1. The announcement came two days after the hack, which Binance disclosed on Thursday, Oct. 29. The remaining 10% of the stolen assets had not been replaced as of the report.
The report did not specify how many users or accounts were affected. CoinDesk said the replacement figure was up from about 80% in an earlier update from the exchange. Binance said it was absorbing all losses through corporate funds, futures reserves, and its Secure Asset Fund for Users (SAFU), keeping user balances intact, according to the report.
Breach Facts and Initial Statement
The breach totaled $6.3 billion in stolen cryptocurrency, according to CoinDesk. The figure would make it one of the largest losses ever disclosed by a cryptocurrency exchange. Binance disclosed the incident and later provided updates on its replacement efforts.
In its statement, Binance said it had replenished 90% of the stolen assets. "Binance says it has replenished 90% of the cryptocurrency stolen in Thursday's $6.3 billion hack and remains on track to reopen withdrawals Sunday, Nov. 1," the CoinDesk report said. The exchange did not provide a breakdown of which assets were replaced or how the replacement was conducted in the excerpts reviewed.
The report did not include a direct quotation from a named Binance official. Instead, it attributed the information to the exchange's statements. Binance said it was using company money to buy replacement tokens, according to Reuters. The exchange also said it had fully backed its top tokens and planned to resume withdrawals on Sunday.
Recovery and Replacement Details
The 90% replacement figure refers to assets the exchange said it had restored, according to CoinDesk. Binance said it had replenished 90% of the stolen crypto, up from about 80% in its previous update. The exchange said it used corporate funds, part of its Futures Insurance Fund, and SAFU to cover the losses. Ten tokens were fully backed, including XRP and RLUSD, according to the report.
The report said the remaining 10% may take longer to source. The BBC reported that the remaining 10% may take longer to source in the open market. Binance did not disclose a specific timeline for replacing the remainder in the excerpts reviewed.
Binance said it was absorbing all losses through corporate funds, futures reserves, and SAFU, keeping user balances intact. The report did not specify how customer withdrawals would be processed or whether all users would have full access to their balances immediately upon reopening. Binance said it would cover the losses, according to the report.
Industry and Regulatory Context
The Binance breach is among the largest cryptocurrency exchange losses on record. The CoinDesk report on the Binance breach did not mention specific regulatory or law-enforcement responses.
The report said the attack was attributed to North Korean hackers by several analytics services and individuals. The FBI's statement was not included in the main CoinDesk report on the replacement.
Industry security concerns have focused on exchange hot wallets and the ability of hackers to move stolen assets across borders. The report did not include a quoted perspective from a security researcher, regulator, or industry group. The FBI's request to block specific addresses was the only official response mentioned in the source context.
Reference
- Binance says it has replaced 90% of stolen crypto after massive $6.3 billion breach. https://www.coindesk.com/business/2026/10/31/binance-says-it-has-replaced-90-of-stolen-crypto-after-massive-usd6-3-billion-breach
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