Binance Recovers 90% and Reassures Investors

Following tense hours that held global financial markets in suspense, Binance, the largest giant in the world of cryptocurrency trading, announced today, Saturday, October 31, 2026, its success in recovering and covering 90% of the total assets looted during the largest cyberattack in the history of digital assets. This decisive proactive move aims to absorb the market shock and restore confidence to millions of traders worldwide before the crisis could turn into a total collapse.

The chapters of this unprecedented incident date back to Thursday, October 29, when professional hackers carried out a lightning digital raid that took only 20 minutes. During this time, they managed to breach the security system and siphon digital assets ranging in value between $6.34 and $6.36 billion across 10 different blockchain networks. The heaviest blow concentrated on the Ethereum network with approximately $3.8 billion, followed by the Bitcoin network with $1.5 billion. Meanwhile, initial investigations pointed the finger at the North Korea-linked Lazarus Group and Trader Traitor, with the prevailing hypothesis being that the attackers infiltrated via a laptop belonging to one of the platform's engineers.

In a frantic race against time to block the hackers and prevent them from laundering or liquidating funds in parallel markets, the platform's management led an international effort in coordination with law enforcement agencies, cybersecurity firms, and stablecoin issuers. To date, this has resulted in tracking and freezing nearly $3 billion of those looted assets, paralyzing the hackers' movements and depriving them of roughly half the loot in the immediate hours following the attack.

The platform did not stop at security and technical tracking; it immediately resorted to activating a financial emergency plan relying on its own internal resources to bridge the massive gap in balances. It injected massive liquidity from 3 main channels, including the company's private treasury, a portion of the insurance fund dedicated to futures contracts, and partial utilization of the Secure Asset Fund for Users (commonly known as SAFU). This reaffirmed its solvency and ability to withstand the fiercest financial storms without waiting for the full recovery of stolen funds from the hackers' hands.

These rapid financial interventions were reflected in the updated Proof of Reserves report published by the platform today, which showed that the balances of 10 major cryptocurrencies have returned to a full coverage ratio of 100%. This list includes Bitcoin, Ethereum, Tether, the platform's native token BNB, along with Solana, USD Coin, Ripple, USD1, RLUSD, and Zcash, ensuring the stability of the most traded and market-sensitive assets.

As for the remaining 10% of the total missing funds, the company explained that they represent a group of low-liquidity cryptocurrencies whose purchase and provision require more time to avoid triggering sharp price fluctuations or artificial spikes in market value. It emphasized that its financial teams are currently continuing the gradual acquisition of these currencies across open markets and over-the-counter (OTC) trading platforms to complete comprehensive coverage as soon as possible.

Binance concluded its actions by delivering a decisive reassuring message to its clients, stressing that the company has absorbed the full financial burden of this cyber disaster from its own funds without a single user's account being touched by even 1 cent of loss. It also announced its full commitment to the set timetable to resume withdrawal operations and open them normally to all users starting tomorrow, Sunday, November 1, thereby turning the page on the most severe existential test the cryptocurrency industry has faced since its inception.