$SOL $BTC $USDT The following is AI-generated and may contain errors; please rely on the official announcements in Binance's Announcement Center.
"29 October 2026, Binance experienced a serious and highly sophisticated security incident. This should not have happened, and we apologise for the concern, disruption and uncertainty it caused our users, partners and the wider industry.
Our first responsibility is to protect users. Binance will absorb the financial impact of the stolen funds, not our users. We have already set aside more than 100% of the funds required to cover the loss. As of 31 October 2026, 98% of the impacted token assets have been replenished and are verifiable on our Proof of Reserves page. We are in the process of purchasing the outstanding, more illiquid assets.
Approximately USD 6.34 billion in digital assets were" means that Binance reported a major, sophisticated cyberattack on 29 October 2026 that affected digital assets held in its hot-wallet systems.
In plain terms:
Binance acknowledges that the incident caused concern and disruption, and says it should not have occurred.
The statement says affected users are not expected to bear the loss. Binance says it will cover the financial impact using its own resources.
It states that Binance reserved more than the full amount needed to cover the loss, and that by 31 October, 98% of the affected token assets had already been replenished and could be checked through its Proof of Reserves system.
“More illiquid assets” refers to tokens that may be harder to buy quickly without affecting their market price. Binance says it was still acquiring those remaining assets.
The unfinished final sentence introduces the reported scale of the incident: approximately USD 6.34 billion in digital assets were affected. “Affected” does not necessarily mean all of that amount was permanently lost; the broader post says some assets were frozen or intercepted while reconciliation continued.
According to Binance’s latest recovery announcement, withdrawals were being reopened for additional assets as
"29 October 2026, Binance experienced a serious and highly sophisticated security incident. This should not have happened, and we apologise for the concern, disruption and uncertainty it caused our users, partners and the wider industry.
Our first responsibility is to protect users. Binance will absorb the financial impact of the stolen funds, not our users. We have already set aside more than 100% of the funds required to cover the loss. As of 31 October 2026, 98% of the impacted token assets have been replenished and are verifiable on our Proof of Reserves page. We are in the process of purchasing the outstanding, more illiquid assets.
Approximately USD 6.34 billion in digital assets were" means that Binance reported a major, sophisticated cyberattack on 29 October 2026 that affected digital assets held in its hot-wallet systems.
In plain terms:
Binance acknowledges that the incident caused concern and disruption, and says it should not have occurred.
The statement says affected users are not expected to bear the loss. Binance says it will cover the financial impact using its own resources.
It states that Binance reserved more than the full amount needed to cover the loss, and that by 31 October, 98% of the affected token assets had already been replenished and could be checked through its Proof of Reserves system.
“More illiquid assets” refers to tokens that may be harder to buy quickly without affecting their market price. Binance says it was still acquiring those remaining assets.
The unfinished final sentence introduces the reported scale of the incident: approximately USD 6.34 billion in digital assets were affected. “Affected” does not necessarily mean all of that amount was permanently lost; the broader post says some assets were frozen or intercepted while reconciliation continued.
According to Binance’s latest recovery announcement, withdrawals were being reopened for additional assets as
