Regarding theOctober 29–30, 2026, security incident.
Key Details from the Announcement & Incident:
The Incident: Binance suffered a major security breach on October 29, 2026, where an estimated $6.3 billion worth of digital assets were unauthorize-ably withdrawn. Investigations (supported by firms like TRM Labs and the FBI) linked the attack to North Korea's TraderTraitor hacking group.
Recovery Update (Oct 31, 2026): Binance announced that 90% of the stolen assets had been replenished (up from roughly 80% in the previous update) using a combination of the Secure Asset Fund for Users (SAFU), a portion of its Futures Insurance Fund, and its corporate treasury.
Fully Backed Tokens: Ten major cryptocurrencies (including BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC) were confirmed as 100% fully backed.
Withdrawals: Binance stated it was on track to resume withdrawal services in phases starting November 1, 2026.
It is due to binance's consumer friendly behaviour and security, that it is the best exchange out there. Security breaches are possible even at the most secure of places. Even FBI gets hacked. But it is the willingness to take responsibility, secure the consumer, fix and learn from the mistakes, that's what make it great.
$BTC $ETH
#BinanceUpdatesProofofReservesAddresses #BinanceToResumePhaseOneOfWithdrawals #BinanceSAFUFundTransferCompleted7499BTC #Binancehacked
Key Details from the Announcement & Incident:
The Incident: Binance suffered a major security breach on October 29, 2026, where an estimated $6.3 billion worth of digital assets were unauthorize-ably withdrawn. Investigations (supported by firms like TRM Labs and the FBI) linked the attack to North Korea's TraderTraitor hacking group.
Recovery Update (Oct 31, 2026): Binance announced that 90% of the stolen assets had been replenished (up from roughly 80% in the previous update) using a combination of the Secure Asset Fund for Users (SAFU), a portion of its Futures Insurance Fund, and its corporate treasury.
Fully Backed Tokens: Ten major cryptocurrencies (including BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC) were confirmed as 100% fully backed.
Withdrawals: Binance stated it was on track to resume withdrawal services in phases starting November 1, 2026.
It is due to binance's consumer friendly behaviour and security, that it is the best exchange out there. Security breaches are possible even at the most secure of places. Even FBI gets hacked. But it is the willingness to take responsibility, secure the consumer, fix and learn from the mistakes, that's what make it great.
$BTC $ETH
#BinanceUpdatesProofofReservesAddresses #BinanceToResumePhaseOneOfWithdrawals #BinanceSAFUFundTransferCompleted7499BTC #Binancehacked
