Binance Has Set Aside More Than $6.34 Billion to Cover Losses Following Hacking Attack
Ринки 31.10.2026 23:43
Binance, the world’s largest cryptocurrency exchange, has allocated more than $6.34 billion of its own funds to cover losses resulting from a large-scale cyberattack, during which attackers stole digital assets worth approximately $6.3 billion. The company announced this on October 30, 2026.
According to an official statement from Binance, the attack occurred on October 29 at approximately 8:05 p.m. Coordinated Universal Time (UTC). The attackers gained unauthorized access to the exchange’s hot wallets, which are used to conduct real-time cryptocurrency transactions.
To compensate for the losses, Binance has set aside more than $6.34 billion in corporate funds, of which approximately $5 billion is already backed directly by the digital assets affected by the attack, including Bitcoin (BTC), Ethereum (ETH), BNB, Tether (USDT), and USD Coin (USDC). As a result, the company has recovered about 80% of the required volume of the relevant tokens and continues to acquire the remaining assets on public and over-the-counter markets.
At the same time, Binance reported that it has frozen approximately $3 billion in stolen digital assets thanks to cooperation with law enforcement agencies, blockchain analytics firms, token issuers, and other participants in the cryptocurrency market. Efforts to track down and recover the funds are ongoing.
As part of the investigation, the exchange’s specialists initially suspected that the attackers may have exploited a compromised work laptop belonging to an employee in the technical department. However, a subsequent review identified additional potential points of entry. As of October 30, the company had found no evidence of a leak of private keys for cryptocurrency wallets.
After discovering the attack, Binance temporarily suspended withdrawals to conduct a security audit and upgrade its infrastructure. Deposits and other unaffected services continued to operate. The exchange planned to gradually resume asset withdrawals after completing the necessary checks.
At the same time, Binance management announced that it is preparing an updated Proof of Reserves report confirming the existence of reserves to back customer balances. The results are scheduled to be published on November 2, 2026.
The company also intends to present a detailed technical report on the causes of the incident and the protective measures taken.
Binance management stated that the financial consequences of the attack will be covered by corporate reserves and the Secure Asset Fund for Users (SAFU), without passing the losses on to the platform’s customers.
The incident may heighten the focus of regulators and institutional investors on the security of centralized cryptocurrency exchanges, the transparency of their reserves, and their ability to ensure the safety of digital assets.
Founded in 2017, Binance is one of the world’s largest cryptocurrency trading platforms. The exchange provides spot and derivatives trading, digital asset custody, institutional services, and other cryptocurrency infrastructure services.
Теги: Bitcoin Binance cryptocurrency investment cybersecurity Переглядів: 91
