🔥 BINANCE KEEPS ITS PROMISE: 98% OF THE STOLEN ASSETS HAVE BEEN REPLENISHED
On October 29, 2026, Binance suffered what could be the largest financial theft in history: $6.3 billion in crypto assets were stolen from its hot wallets. One week later, the platform has shown through actions, not just words, why it is the world’s largest exchange.
According to Binance’s official announcement on November 4, the company has replenished approximately 98% of the affected assets using its own funds, without passing the losses on to users. It has also expanded its Proof of Reserves from 10 to 44 tokens, allowing more users to verify that their balances are 100% backed.
👇 How did you react to the news of the hack? Do you believe this response strengthens confidence in Binance? I’m reading your comments.
📌 COMMITMENT FULFILLED: 98% REPLENISHED WITH OWN FUNDS
From the very beginning, Binance was clear: users would not lose a single cent. The company set aside more than 100% of the funds needed to cover the theft, using its own resources and the SAFU (Secure Asset Fund for Users).
As of November 4, 98% of the affected assets have already been replenished and can be verified on the Proof of Reserves page. The remaining 2% consists of low-liquidity tokens, which Binance is acquiring through market and OTC channels—a process that will take a little longer.
📌 PROOF OF RESERVES EXPANDED: 44 VERIFIABLE TOKENS
To strengthen transparency, Binance took a new snapshot of its Proof of Reserves on November 4 at 00:00 UTC. Coverage expanded from 10 to 44 tokens, and users can verify on the official website that their balances are backed at least 1:1.
Generating the full zero-knowledge proof (ZK-proof) will take between 50 and 60 hours due to the computational workload. Once it’s generated, any user holding tokens within the coverage can independently verify that their funds are fully backed.
📌 WITHDRAWALS NORMALIZED AND DEPOSITS EXCEEDING WITHDRAWALS
Withdrawals have been reopened in phases. On November 3, Binance restored withdrawals for assets on networks such as Ethereum (BTC, ENA, LINK, SHIB, among others) and Solana (RENDER, JUP, BONK, etc.). Deposits have remained available without interruption.
Richard Teng, Co-CEO of Binance, confirmed at Hong Kong Fintech Week that the platform is in “very good financial health” and that flows have already returned to normal: hourly deposits exceed withdrawals. The company also revealed that approximately $2.85 billion in assets were frozen or intercepted thanks to cooperation with industry partners.
📌 THE CONTEXT: BITCOIN DEFENDS $76,000
The hack shook the market. Bitcoin fell to a six-week low of $76,275 and triggered $1.58 billion in liquidations. However, the price has recovered and is currently trading near $76,000, defending a key level: the average cost basis of short-term holders.
According to Glassnode, if Bitcoin holds this support and recovers to $82,000, it could pave the way toward $87,000. If it loses this level, the $73,000–$74,000 zone would be the next target. On-chain data shows that the proportion of short-term holders in profit has fallen to 38%, flushing excess speculation from the market.
📌 THE FBI ACCUSES NORTH KOREA
While Binance was working on the recovery, the FBI identified North Korea as responsible for the attack, using social engineering tactics such as fake job interviews to plant malware. North Korea denied the accusations, calling them “absurd rhetoric.”
According to Elliptic estimates, North Korea has stolen $7.6 billion in cryptocurrency this year, a record amount.
📌 CONCLUSION
Crises don't define platforms by the problems they face, but by how they respond. Binance has shown through its actions that it can cover the losses, replenish the funds, and strengthen its transparency. Expanding Proof of Reserves to 44 tokens and the normalization of withdrawals are clear signs that the platform remains strong.
I’m bullish in the long term, and I believe this response strengthens confidence in the ecosystem. The market may take time to recover, but the fundamentals remain intact.
What do you think? Do you believe this response strengthens confidence in Binance? 👇 Share your analysis in the comments.
⚠️ @BINANCE BIBI SECURITY ALERT
It’s important to remember that Binance and its AI assistant, BiBi, do NOT have any official tokens. Beware of anyone or any project asking you to invest in a supposed “Binance AI” or “BiBi” token; these are common scams.
Never share your private key, 2FA codes, or passwords.
Always verify information through Binance’s official channels (the app, its website, and its verified social media accounts).
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Disclaimer: Includes opinions from third parties. This should not be interpreted as financial advice. Investments in crypto assets carry risks. Information about the recovery comes from official Binance announcements. Price analysis is based on Glassnode and market reports. Always do your own research before investing.
