Proof of Reserves Update Available (2026-10-31)
This is a general announcement. The products and services mentioned here may not be available in your region.
Dear Binance user,
Our last update explained that Binance had set aside more than US$6.34 billion in its own funds to cover losses from the hack—and that, at the time, we had already covered about 80% of the affected amount.
90% of the affected assets have now been replenished. As previously announced, we reiterate that Brazilian users’ virtual assets are protected.
Since our last update, the amount covered has increased from approximately 80% to 90%. All BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC assets are 100% backed. We will continue purchasing the remaining assets through market and OTC channels until the amount covered reaches 100% for all tokens. Binance will bear the financial impact of these stolen funds—not our users.
How the replenishment of the affected assets is being funded
Partial allocation from the Secure Asset Fund for Users (SAFU), expected to be completed within the next 24 hours. You can check the updated balance here.
Partial allocation from the Global Futures Insurance Fund in eligible jurisdictions. The remaining balance of this fund is a regulatory requirement in eligible jurisdictions. You can check the fund’s updated balance here.
Binance Group’s own funds.
The remaining 10% consists of less liquid tokens, which may take longer to acquire. We are working with industry partners and will provide updates as this is completed. These assets are less liquid, which means it may take longer to obtain them in the required quantities. We are working with industry partners to complete the remaining purchases and will provide further updates as progress is made.
Separately, we updated our Proof of Reserves on 31/10/2026 at 00:00 UTC, and it is now available on the PoR website. This snapshot provides an updated view of the assets that are fully accounted for and is part of our ongoing commitment to transparency. Generating the zero-knowledge proof (ZKP) takes 40 to 50 hours due to computational demands. Once the process is complete, which is expected to be on Tuesday, November 3, 2026, users holding these ten tokens will be able to independently verify that their assets are backed by reserves at a minimum 1:1 ratio.
Our commitment remains unchanged: Binance will cover all losses directly related to the incident. We will continue to demonstrate this through measurable progress, transparent reporting, and concrete action.
Our next milestone is the resumption of virtual asset withdrawals. We remain on track to reopen withdrawals on the previously announced date: Sunday, 01/11/2026, and will share confirmed details as soon as they are available.
For verified updates, follow only Binance’s official channels. If anyone contacts you claiming to be Binance and asks for your password, OTP codes, or seed phrase, it is a scam—we will never ask you for these details.
If you need help, contact us directly through the Official Support Center.
Frequently Asked Questions (FAQs)
What is the Secure Asset Fund for Users (SAFU)?
SAFU is an emergency reserve fund established by Binance in July 2018 to protect users’ 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 size over time.
The SAFU fund is maintained 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). Some of the funds serve as a capital reserve under Binance’s regulatory obligations in ADGM.
Will Binance replenish the SAFU fund?
Binance is committed to replenishing SAFU to bring the fund back to approximately US$1 billion. We are replenishing SAFU to ensure it remains fully funded and ready to protect users, in line with its purpose as an emergency reserve for user protection.
If BTC is already 100% covered (as shown in the latest PoR snapshot), why are you still using the SAFU fund?
We are using part of the SAFU fund to acquire the remaining 10% of circulating assets in order to reach 100% coverage for all tokens.
Can users view the SAFU Fund?
The SAFU wallet address is:
BTC: 1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD
It can be viewed publicly on 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 known as ADL), protect futures traders from deficit losses resulting from insolvent positions, and help ensure that profitable positions are paid in full. Futures Insurance Funds are funded by Binance, including through Liquidation Clearance Fees charged by the platform, and are not part of users’ assets.
Binance rebalanced its Futures Insurance Funds to transfer part of the balance to cover the affected assets.
Is there a higher risk of Auto-Deleveraging (ADL)?
Futures Insurance Funds remain above the coverage level required by Binance’s risk management framework, helping ensure that the funds remain available to support users under extreme market conditions. We continuously monitor the size of the funds against historical stress scenarios that reflect extreme but plausible market conditions, and strengthen them when necessary. Due to volatility, no exchange can completely prevent auto-deleveraging, but we always strive to keep occurrences to a minimum.
Will Binance replenish its Futures Insurance Funds?
The funds are maintained above the required level. When the balance falls below the level required by our framework, Binance replenishes them with company funds, as we have done before. The amount released was the surplus above that level, which is why it could be reallocated without affecting coverage.
Can users view the Futures Insurance Funds in Proof of Reserves (PoR)?
No, not in PoR. The fund itself can be viewed publicly here and is updated daily at 00:00 (UTC).
PoR serves a different purpose: each user can verify that their own assets are fully backed. Futures Insurance Funds are Binance’s own reserve, and users can only view their own assets in PoR.
Can users verify that their assets are fully backed on Binance?
Yes. Users can verify that their assets are fully backed on Binance. Learn more here.
Note: There may be discrepancies between this original English content and any translated versions. In case of a discrepancy, refer to the original English version for the most accurate information.
Thank you for your support!
Binance Team
2026-10-31