The exchange says it covered user losses without borrowing, selling assets, or raising outside money, with ten assets already fully backed
Binance says it has covered the user losses from a major security breach without borrowing a cent, selling assets, or raising money from outside investors. The money came from the exchange’s own balance sheet.
On October 31, 2026, Binance disclosed that it had allocated US$6.34 billion from its corporate treasury to replenish user funds after the breach. The exchange told users they would not suffer losses.
According to the disclosure, the replenishment drew on three internal sources. The first was the Secure Asset Fund for Users, better known as SAFU. SAFU works like an emergency savings account that Binance set aside specifically for situations like this one. The second source was a portion of the futures insurance fund. The third source was the company’s own reserves. Taken together, Binance says, none of the money required outside financing.
Where the recovery stands
As of November 1, 2026, the exchange reported that approximately 90% of the financial impact from the hack had been replenished. That figure was up from earlier estimates of around 80%.
Ten specific assets had reached 100% full reserve backing as of October 31, 2026. The list includes Bitcoin, Ethereum, Tether’s USDT, BNB, Solana’s SOL, USDC, XRP, USD1, Ripple’s RLUSD, and Zcash’s ZEC.
For tokens that are not yet fully covered, Binance has committed to keep buying on the open market and through over-the-counter desks. Binance has not attached a firm deadline to that remaining shortfall.
Proof, not just promises
Binance also published a new Proof of Reserves snapshot on October 31, 2026. Full zero-knowledge proofs are expected to follow on November 3, 2026.
A zero-knowledge proof is a cryptographic method for proving something is true without revealing the underlying data. Applied here, it would let users confirm their balances are included in Binance’s liabilities, and that total reserves cover those liabilities, without exposing anyone’s individual account details.
Why the funding source matters
The attack is considered one of the largest in Binance’s history. Historically, Binance has positioned itself as protective of user assets. That stance contrasts with a wider industry pattern, in which hack losses were often spread across an exchange’s user base rather than absorbed by the company itself.
