Binance reported that customer withdrawals are stabilizing after a $6.3 billion theft on October 29, 2026. The exchange said outflows initially spiked but began to level off as service resumed, while deposit volumes stayed "substantial" throughout.
Binance paused all withdrawals immediately after the breach, then set aside more than $6.34 billion of its own money to compensate customers. The pool came from its Secure Asset Fund for Users (SAFU) and Futures Insurance Fund. By November 1, Binance had replenished roughly 95% of the stolen assets, or about $6 billion. Customers holding BTC, ETH, USDT, BNB, or ZEC were told their balances are fully backed.
Withdrawals restarted on November 1 in phases. Binance published a Proof of Reserves snapshot to show customer balances are matched by assets the exchange holds.
Blockchain analytics firms TRM Labs and Chainalysis linked the attack to TraderTraitor, a state-sponsored hacking unit tied to North Korea. Industry partners froze approximately $3 billion in traceable assets connected to the hack. The FBI issued alerts flagging wallet addresses associated with the stolen assets.
Bitcoin slid to a six-week low on Friday as traders absorbed the breach scale. Over the weekend, prices recovered, and by Monday Bitcoin traded above $78,000 according to Reuters. Analysts believe the incident may be the biggest financial robbery the world has ever seen.