Binance has begun recovering affected assets for users and continues to work with law enforcement, issuers, blockchain intelligence firms and industry partners to trace, freeze and recover additional funds.
The company has already publicly committed to cover losses through company funds in the prior announcement.
Binance has already reserved over $6.34B of company funds to cover this incident. $5B of these funds are already held in the exact token assets that were impacted. We are completing the purchase of the remaining amount by buying token assets through market channels and OTC channels. We are doing this to match the format of the remaining token assets and address any asset shortfalls. This step can take longer because some tokens may have low liquidity and OTC settlement also takes time. We will share more progress as soon as we can.
These figures do not include frozen or protected assets, which remain subject to ongoing recovery and verification. Currently, $3bn has been frozen, with thanks to our industry partners. We are working with partners and law enforcement to recover the frozen assets.We will continue to use company resources to cover confirmed shortfall and will provide further verified updates as recovery efforts progress. Ultimately, all user funds will be verified publicly through our Proof of Reserves.
We will weather this storm. Thank you for the support.
Binance is preparing to resume phase one of withdrawals on 2026-11-01 between 06:00 and 09:00 (UTC).
The first batch open for withdrawal covers 15 currencies across the 15 networks shown in the chart. Wallets for other currencies are still undergoing repeated security audits and perimeter checks which will be prioritized based on the platform's market cap, locked funds, and user base. The remaining tokens are being processed as quickly as possible. Thank you for your support and understanding💁🏻♀️
Binance has allocated US$6.34 billion of its own corporate funds to the User Fund. In the current User Fund, BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC have all achieved 100% full reserve backing. We will continue to purchase other altcoin assets that are not yet 100% matched through market and over-the-counter (OTC) channels until the replenishment ratio for all tokens reaches 100%.
We completed a new Proof of Reserves snapshot at 08:00 (UTC+8) on October 31, 2026, and have updated it on the Proof of Reserves website. This snapshot presents the latest fully verified asset position and is part of our ongoing commitment to transparency. Because generating zero-knowledge proofs requires substantial computing resources, it is expected to take approximately 40 to 50 hours. If you hold any of the aforementioned ten tokens, you can independently verify, once the complete proof is generated, that your assets are backed by at least 1:1 full reserves. The complete proof is expected to be published on Tuesday, November 3, 2026 (UTC).