Binance Co-CEO Yi He provided the latest update on a security incident affecting approximately US$6.3 billion worth of crypto assets.
In her statement on October 30, 2026, Yi He explained that most of the affected crypto assets were already available in Binance’s own reserves.
Binance said it had prepared more than US$6.34 billion in company funds to cover all losses. Around US$5 billion of that was already available in the same tokens as the affected assets.
In addition, approximately US$3 billion in assets have been successfully frozen through cooperation with various industry partners.
What about withdrawals?
Yi He said withdrawal services are expected to resume within 42 hours. However, this still depends on the completion of security checks and infrastructure recovery.
Binance also committed to updating its Proof of Reserves so users can verify the reserves backing their balances.
There are three important things to note:
Binance said it would cover all losses resulting from the incident.
Most of the replacement assets are already available in the company’s reserves.
Withdrawals will reopen only once the system has been confirmed to be fully secure.
This incident is a major test of the security and transparency of the crypto industry.
Market attention is now focused on the restoration of services and Binance’s next proof of reserves.
💬 Do you think Binance’s actions are enough to restore user trust?
#Binance #CryptoNews #YiHe #Bitcoin #CryptoSecurity