Binance reopens withdrawals Sunday with 90% of stolen crypto replenished

Binance says withdrawals reopen on 1 November after replenishing 90% of the stolen $6.3 billion

Binance said on 31 October it has replaced 90% of the roughly $6.3 billion in cryptocurrency stolen in the 29 October hack and remains on track to reopen customer withdrawals on Sunday, 1 November. The update, posted on X, lifted the figure from 80% the previous day and came with a proof-of-reserves snapshot showing a 100% reserve.

What reopening withdrawals tests

Sunday is the moment the exchange’s numbers meet its users. Binance’s 30 October update stated: “Binance has already reserved over $6.34B of company funds to cover this incident. $5B of these funds are already held in the exact token assets that were impacted.”

Where the replacement money comes from matters for customer balances. Binance has said it is funding the gap from its own treasury, from drawing down part of the SAFU reserve it keeps for extreme events, and from the pool that insures its derivatives positions, leaving customer accounts untouched. The phased withdrawal resumption after Bitget’s $388 million exploit showed in September how a reopening is where exchange claims get tested in practice.

For holders, the asset list matters as much as the total. Binance said every affected holding, from bitcoin and ether through USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC, is now matched by reserves one for one. The last 10% of the gap sits in tokens with thinner markets, which the exchange is buying through market and over-the-counter channels; the 30 October update noted that step “can take longer because some tokens may have low liquidity and OTC settlement also takes time”. Holders of those tokens may face the longest waits on reopening day.

The verification clock behind the numbers

Every recovery figure here is a Binance self-report. Security firm CertiK has said it needs more information to verify the claimed $5 billion in replacement holdings. The full cryptographic proof of reserves is expected by 3 November, published on Binance’s proof-of-reserves page; Binance said the zero-knowledge proof takes approximately 40 to 50 hours to generate. Separately, Binance has committed to restoring the SAFU reserve to about $1 billion after the partial drawdown.

Roughly $3 billion of the stolen assets has been frozen by industry partners including Tether and Circle, a separate pool from the replenished tokens. The next dated step is 3 November, when the full proof of reserves is due.