All user asset losses resulting from the $6.3 billion hack in October 2026 have officially been covered 100%. Binance announced the full resolution on November 12, 2026, following a phased reimbursement process over several weeks. Total company funds allocated exceeded $6.34 billion.
This reimbursement restores user balances to their full state. Behind the settlement, the exchange absorbed the entire cost of the recovery using its own internal cash reserves.
Where the $6.34 Billion Came From
To fund the user reimbursements, Binance allocated liquidity from three internal financial pools. The primary source came from the Secure Asset Fund for Users (SAFU), an emergency fund established specifically to handle security incidents. The second portion was drawn from parts of the Futures Insurance fund reserve, while the remainder was covered directly using the company’s corporate treasury.
This full completion follows previous reimbursement milestones that reached 90% on October 31, 2026, and 98% on November 4, 2026, before finally being fully resolved.
The drawdown of SAFU to cover the hack losses was immediately accompanied by a plan to restore the emergency reserve: Binance reaffirmed its commitment to replenish the SAFU fund back to its target level of around $1 billion.
100% Reserve Ratio Amid Outflows
Alongside the fund recovery, the exchange released its latest Proof of Reserves snapshot. Binance is also processing zero-knowledge proof (ZKP) verification based on a Merkle tree structure to allow users to verify a minimum 1:1 backing ratio directly and independently.
The audit snapshot as of October 31, 2026, showed mixed asset positions. User USDT balances dropped 7.95% to 29.48 billion tokens and Ethereum deposits shrank 3.80% to 3.65 million ETH, while Bitcoin balances rose 0.52% to 692,187 BTC. In terms of reserve ratios, the audit recorded a secure standing of 100% for USDT and 100.04% for Bitcoin on the audit date.
Despite the reserve ratio remaining secure, on-chain data captured capital shifting away from the exchange. Research from analytics firm Santiment noted a net outflow of roughly 28,316 BTC from Binance wallets between the day of the hack and November 5, 2026. These withdrawals continued a downward trend in Bitcoin balances that had already begun before the hack took place.
For users on the exchange, the 100% coverage of losses and reserve audit ensure balances remain fully protected within the system. However, for the 28,316 Bitcoin that flowed out on net, asset migration had already been underway since the onset of the incident.
Sourced from crypto.news.
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Previously: Binance Reopens HYPE and Aptos Withdrawals After $6.3 Billion Hack - Four Tokens Still Suspended
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
