The world’s largest cryptocurrency exchange, Binance, has announced that it has reserved more than $6.34 billion in company funds to cover losses suffered by users following a major security breach that reportedly resulted in the theft of approximately $6.3 billion in digital assets.
The company also confirmed that it had commenced the recovery of affected assets, assuring customers that their funds would be protected despite the scale of the incident.
In an update released on Friday, October 30, 2026, Binance disclosed that more than $5 billion of the reserved funds were already held in the exact cryptocurrency tokens affected by the security breach.
The exchange explained that it was working to acquire the remaining assets through cryptocurrency market transactions and over-the-counter (OTC) channels to ensure that the reserves matched the specific tokens involved.
However, Binance warned that completing the process could take additional time because some affected tokens have limited market liquidity, while over-the-counter transactions may require longer settlement periods.
The company further disclosed that approximately $3 billion worth of affected assets had already been frozen through collaboration with industry partners.
According to Binance, the frozen assets are separate from the $6.34 billion it has reserved internally to cover potential losses.
The exchange said it was working with law enforcement agencies, cryptocurrency issuers, blockchain intelligence firms, and other industry partners to trace, freeze, and recover additional funds.
The development follows a major cyberattack that reportedly saw hackers move approximately $6.3 billion from Binance-controlled wallets across multiple blockchain networks.
According to reports, the bulk of the theft occurred within approximately 20 minutes, raising concerns about cybersecurity and the safety of digital assets held by cryptocurrency exchanges.
Blockchain intelligence firms, including TRM Labs and Chainalysis, have linked the attack to North Korea’s TraderTraitor hacking group, although investigations are ongoing.
Binance had earlier indicated that preliminary investigations pointed to a compromised DevOps engineer’s laptop, which allegedly allowed attackers to access internal systems and execute unauthorized withdrawal transactions.
The company, however, said it had found no evidence that users’ wallet private keys were leaked.
Binance also stated that it would continue using its corporate resources to cover any confirmed shortfalls and promised to provide further updates as recovery efforts progressed.
The exchange added that users’ funds would ultimately be verified through its Proof of Reserves system, a transparency mechanism designed to demonstrate that customer assets are backed by available reserves.
