Security Incident Asset Replenishment Update: Approximately 90% of Affected Assets Replenished and Proof of Reserves Snapshot Published (2026-10-31)

Dear Binance users,
In our previous update, we mentioned that Binance had set aside more than $6.34 billion in company funds to cover the losses from the assets stolen in this security incident. At that time, approximately 80% of the affected assets had been replenished.
This figure has now increased to 90%.
BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are now all backed by 100% in full reserves. We will continue purchasing the remaining stolen tokens through market and over-the-counter channels until all tokens are fully replenished to 100%. Binance will bear the financial losses from this asset theft, not users.
The funds used for this replenishment include:
A portion of the Secure Asset Fund for Users (SAFU), which is expected to be completed within the next 24 hours;
A portion of the Futures Insurance Fund. The remaining balance of the fund is being retained in accordance with regulatory requirements. Users can view the fund’s latest balance here;
Binance’s own corporate funds.
We are continuing to purchase the remaining affected assets through market and over-the-counter channels. The approximately 10% of assets that have yet to be replenished are tokens other than the top ten listed above. Because these assets are relatively illiquid, it may take longer to acquire the required amounts. We are working closely with our industry partners to purchase the remaining assets and will share updates as soon as we make further progress.
In addition, we completed a new Proof of Reserves snapshot at 08:00 (UTC+8) on October 31, 2026, and updated the Proof of Reserves website. The snapshot shows the latest status of assets that have been fully verified and is part of our ongoing commitment to transparency. Generating the zero-knowledge proof requires substantial computing resources and is expected to take approximately 40 to 50 hours. Users holding any of the ten tokens listed above will therefore be able to verify for themselves that their assets are backed by at least 1:1 reserves once the complete proof has been generated. The complete proof is expected on Tuesday, November 3, 2026 (UTC).
Our commitment remains unchanged: Binance will fully cover the financial losses resulting from this theft. We will continue to honor this commitment through measurable progress, transparent disclosures, and concrete action.
Our next priority is to restore user withdrawals. Work is proceeding as planned, and withdrawals are expected to resume within the previously announced timeframe, on Sunday, November 1, 2026. We will share the latest updates as soon as the specific arrangements are confirmed.
Frequently Asked Questions
What is the Secure Asset Fund for Users (SAFU)?
The Secure Asset Fund for Users (SAFU) is an emergency reserve fund established by Binance in July 2018 to protect users’ assets in extreme situations, such as security breaches or unexpected platform-level incidents. Binance allocates a certain portion of trading fees to the fund, steadily building it up to a substantial size.
The SAFU Fund is held and managed by Nest Clearing and Custody Limited, a recognized clearing house regulated by the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM). A portion of the funds is held as capital reserves to meet Binance’s regulatory obligations in ADGM.
Will Binance replenish the SAFU Fund?
Binance is committed to replenishing the SAFU Fund and restoring its size to approximately $1 billion. We are replenishing the fund to ensure it has sufficient reserves to protect users whenever needed and to continue serving as an emergency reserve for user protection.
If the latest Proof of Reserves snapshot shows that Bitcoin is 100% fully backed, why is Binance still using the SAFU Fund?
We are using a portion of the SAFU Fund to purchase the remaining 10% of stolen assets that have yet to be replenished, ensuring that all tokens ultimately reach a 100% replenishment rate.
Can users view the SAFU Fund?
The BTC wallet address for the SAFU Fund is:
BTC: 1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD
What is the Futures Insurance Fund?
The Futures Insurance Fund is a risk management mechanism provided by Binance to mitigate the impact of forced liquidations. Its main purposes include reducing the occurrence of auto-deleveraging (commonly known as ADL) for counterparties, protecting futures traders from losses caused by bankrupt positions, and helping ensure that profitable positions are settled in full. The Futures Insurance Fund is funded by Binance, including with fees collected from forced liquidations. The fund is not a user asset.
Binance has reallocated part of the Futures Insurance Fund to replenish assets affected by this incident.
Will this increase the risk of auto-deleveraging (ADL)?
The Futures Insurance Fund balance remains above the coverage level required by Binance’s existing risk management framework, ensuring that the fund has sufficient capital to support users even under extreme market conditions. We will continue to monitor the fund’s size and assess it against historical stress-test scenarios. These scenarios cover extreme but reasonably possible market conditions, and we will add funds to the fund promptly when necessary. Market volatility is an inherent part of trading, and no trading platform can completely eliminate the possibility of auto-deleveraging. However, we remain committed to minimizing how often it occurs.
Will Binance replenish the Futures Insurance Fund?
The Futures Insurance Fund is consistently maintained above the required level. If its balance falls below the level required by the risk management framework, Binance will replenish it using its own corporate funds, as it has done in the past. The funds allocated this time were in excess of the required coverage level and can therefore be reallocated without affecting that level.
Can users view the Futures Insurance Fund in Proof of Reserves?
No. The Futures Insurance Fund is not included in Proof of Reserves. Users can view information about the fund publicly here. This page is updated daily at 08:00 (UTC+8).
Proof of Reserves serves a different purpose: users can use PoR to verify that their assets are fully backed by reserves. The Futures Insurance Fund is part of Binance’s own reserve funds, while users can only view and verify their own assets through PoR.
Can users verify that their assets on Binance are fully backed by reserves?
Yes. Users can verify that their assets on Binance are fully backed by reserves through Proof of Reserves. Click here to learn more.
Note: The original English announcement and translated versions may differ. In the event of any discrepancy, please refer to the original English version for the latest or most accurate information.
Thank you for supporting Binance!
The Binance Team
October 31, 2026