Cricket Crypto Eye

Fellow Binancians,
Binance is preparing to resume phase one of withdrawals on 2026-11-01 between 06:00 and 09:00 (UTC).
Since the incident, our teams have taken precautionary measures to safeguard the platform, conducted security assessments, and worked to verify the readiness of affected services. We aim to restore withdrawals progressively as we complete security and readiness checks. Deposit services remain open and are not affected by the incident.
We understand the concern and disruption the suspension has caused. Restoring access to your funds is a priority, and we are taking a controlled approach to do so safely. We will continue to monitor closely as services return in phases.
As we have said throughout this incident: user funds remain safe. Binance will absorb the financial impact of the stolen funds, not our users.
Withdrawal Services Resuming in Phases
The rollout will be in phases. Phase one will include the following networks and assets which are available for withdrawals progressively. We will share updates via our official X channel.
NetworkAsset(s)BTCBTCETHETH, USDT, USDCBSCBNB, USDT, USDCTRXTRX, USDTSOLSOL, USDT, USDCXRPXRPZECZECDOGEDOGETONUSDT, GRAMMATIC (Polygon)POL, USDT, USDCAVAXCAVAX, USDT, USDCARBITRUMETH, USDT, USDC, ARBBASEETH, USDCOP (Optimism)ETH, USDT, USDCSUISUI
We are taking a phased approach by prioritizing tokens based on the past week data of user demand, so that each network and asset pair can be restored carefully, with stability and security checks completed before access is reopened.
These listed networks and assets above will become available when this first phase of withdrawals resumes, and additional networks and assets will be added once they are ready. Please check the withdrawal page for your selected asset and network, or visit our network status page, to confirm availability.
During the initial rollout, users may experience temporary delays or longer processing times due to traffic volume. If a withdrawal for a network or tokens listed above doesn’t go through, you can try again after a short while. This is expected during a phased rollout. We will continue to monitor network and platform performance closely.
Why Withdrawals Were Temporarily Paused at the Earlier Stages of the Security Incident
Withdrawals were temporarily suspended as a precaution while our teams worked to contain the incident loss, assess its impact, restore affected services, and complete security checks.
We did not take this decision lightly. We understand how important reliable access to withdrawals is for our users. However, our priority was to protect users, safeguard the platform, and complete the necessary security checks before restoring services.
During this period, our teams have:
Conducting enhanced security reviews of affected services;Assessing withdrawal infrastructure and verifying its operational readiness;Working with law enforcement and industry partners to trace and recover stolen funds;Replenishing affected assets using company resources;Monitoring for residual risks.
Our recovery commitment remains unchanged.
As shared in our previous update, Binance had already covered approximately 90% of the impacted amount, up from approximately 80% in the prior update.
All BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC balances are fully backed 100%. You can verify our proof of reserves snapshot on the PoR website.
We continue purchasing the remaining affected assets through market and OTC channels. Binance has now covered approximately 95% of the impacted amount, up from 90% in our prior update. The outstanding 5% are tokens outside the top ten listed above, and are less liquid in the market and take longer time to source at the required scale.
To Our Users, Partners, and the Broader Industry
We recognize how difficult this period has been for our users and the broader Binance community. Thank you for your patience, understanding, and continued trust as our teams worked through this incident with the seriousness it required.
We also thank our industry partners for acting quickly to help freeze assets and trace stolen funds. We will continue working closely with them and with law enforcement to support recovery efforts and hold those responsible accountable.
Once the investigation is complete, we will publish a post-incident report with further details on the incident.
Resuming withdrawals is a major milestone, but our work continues. We will continue strengthening our safeguards, completing the recovery process, and providing updates as progress continues.
Our commitment remains unchanged: Binance will bear the financial impact of the stolen funds. These losses will not be passed on to users.
Thank you for being part of the Binance community.
Thank you for your support!
Binance Team
2026-11-01

Fellow Binancians,
Our last update explained that Binance had set aside more than $6.34B in company funds to cover hacked losses, and we had already covered approximately 80% of the impacted amount of the hacked loss at that time.
That covered amount is now up to 90%.
All BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are fully backed 100%. We will continue to buy the remaining relevant token assets through market and OTC channels until the covered amount reaches 100% for all tokens. Binance will absorb the financial impact of these stolen funds, not our users.
The replenishment employed:
A partial deployment of the Secure Asset Fund for Users (SAFU). This is expected to happen over the next 24 hours; users can view the updated balance here.A portion of our Futures insurance fund. The remaining balance of the Futures insurance fund is a regulatory requirement. Users can check the updated balance of the fund here. Binance's own corporate treasury.
We continue purchasing the remaining affected stolen assets through market and OTC channels. The outstanding 10% consists of tokens outside the top ten listed above. These assets are less liquid, which means they may take longer to source in the required amounts. We are working with industry partners to complete the remaining acquisitions and will provide further updates as progress continues.
Separately, we have taken a new Proof of Reserve (PoR) snapshot at 2026-10-31 00:00 (UTC), and this has already been updated on the PoR website. The snapshot provides an updated view of assets that are fully accounted for and is part of our ongoing commitment to transparency. The full zero-knowledge proof takes approximately 40 to 50 hours to generate due to the computational workload, so users holding any of these ten tokens can independently verify that their assets are at a minimum 1:1 backed once the full proof is generated, estimated to be by Tuesday, 2026-11-03 (UTC).
Our commitment remains the same: Binance will fully cover the financial impact of the funds stolen in this incident. We will continue to demonstrate this commitment through measurable progress, transparent reporting, and concrete actions.
Our next milestone in focus is resuming the withdrawal services for users. We remain on track to reopen withdrawals within our previously stated timeframe (on Sunday, 2026-11-01) and will provide a further update as soon as details are confirmed.
FAQs
What is the Secure Asset Fund for Users (SAFU)?
SAFU is an emergency reserve fund established by Binance in July 2018 to protect user assets in extreme cases, such as security breaches or platform-level incidents. Binance allocated a percentage of trading fees to grow the fund to a substantial level over time.
The SAFU fund is held and managed by Nest Clearing and Custody Limited, a Recognized Clearing House regulated by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority. A portion of the funds serves as capital reserves as part of Binance regulatory obligations in the ADGM.
Will Binance replenish the SAFU fund?
Binance is committing to replenishing the SAFU to return the fund size to approximately US$1 billion. We are replenishing SAFU to ensure it remains fully resourced and ready to protect users, consistent with its purpose as an emergency user-protection reserve.
If BTC is already 100% covered (as shown in the latest PoR snapshot), why are you still deploying the SAFU fund?
We are utilizing part of the SAFU fund to acquire the remaining 10% of outstanding assets in order to reach 100% coverage for all tokens.
Can a user view the SAFU Fund?
The SAFU wallet address is at:
BTC: 1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD
It can be publicly viewed with blockchain explorers, such as: https://www.blockchain.com/explorer/addresses/btc/1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD
What are Futures Insurance Funds?
Futures Insurance Funds are safety nets provided by Binance that limit the impact of liquidations. Their primary purpose is to reduce the occurrence of counterparty liquidations (commonly referred to as ADL), protect futures traders from deficit losses resulting from bankrupt positions, and help ensure profitable positions are paid out in full. Futures Insurance Funds are funded by Binance, including Liquidation Clearance Fees collected by the platform, and are not part of user assets.
Binance has rebalanced its Futures Insurance Funds to move a portion of the balance to cover the affected assets.
Is there a higher risk of Auto-Deleveraging (ADL)?
The Futures Insurance Funds remain above the coverage level required under Binance’s established risk-management framework, helping ensure the fund remains available to support users during extreme market conditions. We monitor fund size continuously against historical stress scenarios reflecting extreme but plausible market conditions, and top it up when required. Due to volatility, no exchange can completely avoid auto-deleveraging, but we always strive to keep occurrences to a minimum.
Will Binance replenish the Futures Insurance Funds?
The funds are maintained above their required size. When the balance falls below the level our framework requires, Binance tops them up from company funds, as we have done previously. What was released was excess above that level, which is why it could be reallocated without affecting coverage.
Can a user view the Futures Insurance Funds on Proof of Reserves (PoR)?
No, not on PoR. The fund itself is publicly viewable here and refreshes daily at 00:00 (UTC).
PoR serves a different purpose: each user verifies that their own assets are fully backed. The Futures Insurance Funds are Binance’s own reserve and users can only view their own assets on PoR.
Can a user verify their assets are fully backed on Binance?
Yes. Users can verify their assets are fully backed on Binance. Learn more here.
Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your support!
Binance Team
2026-10-31

Fellow Binancians,
Over the past 24 hours, our teams have been working around the clock to respond to a serious security incident involving unauthorized withdrawals of funds. At around 2026-10-29 20:05 (UTC), our hot wallets were compromised, resulting in a loss of approximately $6.3B USD worth of token assets.
We recognize the seriousness of this incident and the concern it has caused across our community. We are treating this as our highest priority. We have been working non-stop on security investigation, infrastructure system upgrading, fund loss prevention and recovery. In this update, we want to give a clear summary of what has been done in the last 24 hours and what we are working towards.
We want to be clear about our commitment: Binance will absorb the financial impact of these stolen funds, not our users.
Protecting Our Users
Our first priority is to ensure that users are protected. Binance will cover all stolen funds related to this incident through our Secure Asset Fund for Users (SAFU) and our corporate treasury.
We have already set aside more than $6.34B in company funds, with $5B held in the exact impacted token assets that were stolen, such as USDC, USDT, BTC, ETH, BNB, etc. This means that we have already covered approximately 80% of the impacted amount. We are actively buying the remaining relevant token assets through market and OTC channels. We will continue to provide updates on the progress on our official channels.
What We Have Done
Since identifying the incident, we have taken immediate action to contain the threat and strengthen our security posture. We have:
Contained the compromised infrastructure, revoked affected authorizations and implemented additional controls to prevent further unauthorized activity.Worked with law enforcement, blockchain intelligence firms, asset issuers and industry partners to trace and freeze affected assets. Approximately $3 billion has been frozen on-chain to date. Further recovery efforts to follow. Strengthened security checks across affected infrastructure.Temporarily suspended withdrawals while conducting additional security reviews, implementing remediation measures and validating the integrity of affected systems. Deposits and other unaffected platform services remain operational.Continued working to restore withdrawal services safely.
What We Have Learned So Far
Our tech and security teams are still deep in the investigations of this complex hack.
Our initial investigation suggested that the incident may involve a compromised laptop, however, our subsequent investigation has uncovered additional points of breach.
At this stage, we have found no evidence that wallet private keys were leaked.
The investigation remains ongoing. We are working with internal and external security experts to establish the full attack sequence, identify all contributing factors and determine the appropriate measures to prevent similar incidents.
We expect to share further technical findings within about 48 hours once they have been verified and their disclosure will not compromise ongoing investigative efforts.
What’s Next
We are focused on four immediate priorities over the next few days:
Restoring Withdrawals: The tech team targets to start resuming the withdrawal service within approximately 34 hours, subject to the completion of security checks. This will proceed on a phased approach. We will provide updates as each phase becomes available.Strengthening Transparency and Verification through the Proof of Reserves: We are buying the remaining 20% of the lost token assets. We plan to run an initial Proof Of Reserves snapshot in 12 hours and have the result ready by Monday 2026-11-02. These reports will provide users with an updated view of platform asset holdings and the corresponding backing of user balances. So you can verify for yourself of the latest account balances on our platform. Recovering the frozen stolen funds: We are working with law enforcement, blockchain intelligence firms, token issuers and other exchanges to trace and recover stolen funds. We will pursue all available avenues to identify those responsible and hold them accountable.Publishing an incident post mortem report: We are conducting a full security review and we will provide a detailed technical report outlining what happened, the lessons learned and the additional safeguards being implemented.
Our Commitment
We take full responsibility for addressing this security incident, strengthening our security infrastructure, and ensuring our users are protected.
For verified updates, please follow Binance's official channels only, or contact us directly through the official Customer Support.
Thank you for your patience and continued trust as we work through this.
Yi and Richard
Co-CEOs of Binance
2026-10-30

This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.
The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete.
As an immediate precaution, Binance has:
temporarily suspended withdrawals while security checks are completed;revoked the affected address authorisation;engaged law enforcement and blockchain intelligence partners to trace and recover funds.
Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice.
Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions.
Thank you for your support!
Binance Team
2026-10-30
Note: This announcement was updated on 2026-10-30 to clarify deposits remain unaffected and continue to operate as normal.