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Binance has replaced about 95% of the crypto assets stolen in the USD 6.3 billion attack on its platform. The exchange said on November 1 that it was reopening withdrawals in stages, after suspending the service to investigate the breach. It has promised to cover the remaining losses without charging customers.
Binance said it had replenished roughly USD 6 billion in affected assets, up from 90% coverage reported on October 31. The outstanding 5% consists of smaller tokens that are harder to buy in large quantities. The company is seeking those assets through exchanges and private trades.
The exchange previously allocated more than USD 6.34 billion to cover losses from the October 29 hack. It used money from its corporate treasury, its Futures Insurance Fund and the Secure Asset Fund for Users (SAFU). These purchases replace assets missing from customer holdings; they do not mean Binance has recovered that amount from the attackers.
Co-CEO Yi He said the company would use about half of its SAFU holdings to support the response. Binance also pledged to restore that emergency fund to around USD 1 billion. The reserve was established to protect customers during security incidents and other emergencies.
Binance scheduled the first stage of withdrawals for November 1, between 06:00 and 09:00 UTC. Reuters subsequently reported that Bitcoin, Ethereum and selected stablecoin withdrawals had resumed. The exchange said it would bring other networks back gradually after completing security checks.
The initial list included Bitcoin, Ethereum, BNB Smart Chain, Solana, XRP and Dogecoin networks. Several networks also supported withdrawals of USDT and USDC. Binance advised customers to check the status of their chosen asset and network, since not every withdrawal option would return at once.
The company said deposits had remained available during the suspension. However, it warned that heavy demand could delay withdrawal processing as services restarted. Binance plans to release a full report on the breach after its investigation ends.
Binance also published an October 31 proof-of-reserves snapshot. It said balances in ten assets, including BTC, ETH, BNB, SOL and XRP, were fully backed. The exchange expects the complete proof to be available by November 3, allowing users to check reserve coverage.
The FBI identified North Korea's TraderTraitor operation as responsible for the crypto theft. In an October 31 notice, the agency said investigators had observed stolen assets moving mainly into Ethereum. It warned that the group could use decentralized finance and instant-swap services to move funds further.
The bureau called on cryptocurrency businesses and network operators to block transactions connected to addresses it identified. Meanwhile, Binance said it was working with law enforcement and industry partners to trace funds and prevent further transfers. It previously reported locating around USD 3 billion in affected assets. Binance did not say that those assets had all been returned.
Binance co-CEO Richard Teng described the incident as a "complex attack" involving a compromised laptop and software designed to erase evidence. Investigators are still examining how the breach happened. The exchange said customers would not bear the cost while it continues replacing the remaining tokens.
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