Binance resumes withdrawals following $6.3 billion hack, says 90% of stolen user assets are covered
- ID
- 41595
- Status
- summarized
- Published
- 01 Nov 2026, 8:19 PM
- Fetched
- 01 Nov 2026, 8:26 PM
- Provider
- CNBC Technology
- Category
- technology
- Original URL
- https://www.cnbc.com/2026/10/31/binance-hack-asset-coverage-withdrawals.html
- Source URL
- https://www.cnbc.com/id/19854910/device/rss/rss.html
Summary
- Score
- 3.0
- Created
- 01 Nov 2026, 8:27 PM
- Tags
- Audience
- developerssaas_founders
What happened
Binance says it has restored backing for about 90% of the roughly $6.3 billion in token assets stolen from its hot wallets, using its Secure Asset Fund for Users, part of its Futures insurance fund, and corporate treasury. It says BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are fully backed 100%, while the remaining 10% is in less liquid tokens outside its top 10. Withdrawals are set to resume Sunday, subject to security checks and final confirmation.
Why it matters
If you accept crypto payments or keep operating treasury on Binance, the concrete detail is that coverage is not the same as recovery: top-10 tokens are fully backed, but the outstanding 10% is less liquid tokens that may take longer to source. Check whether your held tokens are in that fully backed list before assuming Sunday withdrawal access solves everything.
Discussion angle
If withdrawals reopen Sunday, what is your threshold for keeping operating treasury on an exchange versus self-custody, given only the named top-10 tokens are confirmed 100% backed?