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Binance Hack Estimated at $6.3 Billion; 90% of Losses Covered

Binance Hack Estimated at $6.3 Billion; 90% of Losses Covered

First seen 31 Oct 2026, 20:13 UTC • •
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ThreatCluster AI
ThreatCluster •November 1, 2026 at 08:48 UTC
  • •Binance's security breach resulted in an estimated $6.3 billion impact.
  • •90% of the losses have been covered using company funds and SAFU.
  • •Withdrawals are expected to resume on November 1, 2026.

Binance reported a significant security incident with an estimated impact of $6.3 billion, attributed to unauthorized withdrawal transactions facilitated by a compromised employee laptop. The exchange has successfully covered 90% of the losses using corporate funds and its Secure Asset Fund for Users (SAFU). Approximately $3 billion of affected assets have been frozen on-chain, and Binance is collaborating with law enforcement to trace and recover the stolen funds. The remaining 10% of losses are in less liquid tokens, which may take longer to source. Withdrawals were temporarily paused but are expected to resume on November 1, 2026. Binance has confirmed that no wallet private keys were leaked during the incident. The breach has drawn attention to operational security risks within cryptocurrency platforms.

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Timeline

2026-10-29
Initial breach disclosed
Binance announced a security incident involving unauthorized withdrawals via a compromised employee laptop.
Pulse2
2026-10-31
90% of losses covered
Binance reported that it has covered 90% of the estimated $6.3 billion in losses, with plans to source the remaining funds.
Finance.Yahoo
2026-11-01
Withdrawals set to resume
Binance confirmed that it is on track to resume user withdrawals after the security incident.
Straitstimes

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Common questions

How much of the loss has been covered?
Binance has covered 90% of the estimated $6.3 billion loss, primarily using company funds and SAFU.
What caused the breach?
The breach was caused by unauthorized withdrawal transactions facilitated through a compromised employee laptop.
When will withdrawals resume?
Binance plans to resume user withdrawals on November 1, 2026.