Binance says it has already replaced about 90% of the $6.3 billion stolen from its customers in this week’s breach, and plans to cover the rest. Withdrawals, which have been paused since the incident, are on track to reopen on Sunday, 1 November.
The remaining 10% is in what the exchange calls less liquid tokens, so buying them back may take longer. Binance is paying for the losses itself.
The exchange is paying for the replacement itself, buying the missing assets directly. The tokens still outstanding are the less liquid ones, which the company says may take longer to acquire.
What Binance posted
In a post on X, the exchange said it will fully cover the financial impact of the theft and keep showing “measurable progress, transparent reporting, and concrete actions”. It named reopening withdrawals as the next milestone, within the timeframe it gave earlier, and promised another update once details are confirmed.
Customers have had no access to withdrawals since the incident, so Sunday’s reopening is the date most account holders will be watching. Binance says it will publish a further update as soon as the details are confirmed.
We reported on the freeze when the breach came to light in an earlier post. Reports have called the theft a record-breaking crypto heist.
