Binance Crypto Hack: 90% of Stolen Assets Replenished Ahead of Sunday

Following the record-breaking binance crypto hack that resulted in the theft of $6.3 billion, Binance announced on Saturday that it has replaced 90% of the lost assets. The world's largest exchange stated that it remains on track to reopen user withdrawals on Sunday, building on its progress after securing 80% of the funds a day earlier.

Binance has restored 90% of stolen crypto assets and expects to resume client withdrawals on Sunday.

The platform is addressing the deficit through an internal financial package. According to a company spokesperson, the exchange is drawing from its corporate treasury, partially deploying its Secure Asset Fund for Users (SAFU), and utilizing a portion of its futures insurance fund. The representative emphasized that Binance will absorb the financial impact directly rather than passing losses on to clients, maintaining that the futures insurance fund will remain above required risk thresholds. However, the spokesperson did not state how much each funding source contributed, disclose the insurance fund's minimum balance requirement, or quantify the amount of stolen cryptocurrency recovered so far.

The intrusion took place on Thursday and stands as the largest digital asset theft on record. Blockchain intelligence firm TRM Labs attributed the attack to TraderTraitor, a cybercrime group tied to North Korea. In response to the incident, stablecoin issuers Tether and Circle froze roughly $3 billion in affected tokens. Binance clarified that those frozen funds remain separate from the replacement assets it is securing for users.

Binance Crypto Hack Verification and Token Reserves

On Friday, Binance set aside $6.34 billion to offset the breach, including $5 billion in the affected tokens. Blockchain security firm CertiK informed Cointelegraph that further documentation is required to verify the claimed $5 billion reserve. While Binance published an updated reserve snapshot, generating the complete cryptographic zero-knowledge proof requires 40 to 50 hours of computational processing. Binance stated on X that user balances in Bitcoin, Ether, and eight other cryptocurrencies are now fully backed.

Why it matters

Less-liquid tokens make up the remaining shortfall as Binance continues buying replacement assets through market and over-the-counter trades.

The pace of these acquisitions directly controls when complete withdrawal and trading capabilities return for millions of digital asset holders worldwide. By relying on internal reserves rather than haircutting balances, the exchange aims to isolate user capital from systemic insolvency risks following the historic theft.