Key Notes
- Binance says it has reserved more than $6.34 billion of company funds to cover the security incident.
- Around $5 billion is already held in the affected tokens while remaining purchases continue through market and OTC channels.
- The allocation excludes roughly $3 billion in frozen assets, and public reserve verification remains a future step.
Binance says it has reserved more than $6.34 billion of company funds to cover its hot-wallet security incident, with $5 billion already held in the same token assets that were affected. The exchange is buying the remaining assets through market and over-the-counter channels to address token shortfalls.
The allocation excludes frozen or protected assets, Binance said in an October 30 announcement. Around $3 billion remains frozen, with recovery and verification still underway. That distinction separates the company’s own coverage resources from stolen assets that partners have restricted but have not necessarily returned.
Binance Is Matching the Affected Tokens
The exchange said its purchases are intended to match the assets affected by the incident. It warned that completing this process could take time because some tokens have limited liquidity and over-the-counter transactions require settlement.
The statement does not identify the tokens still being acquired, purchase prices or a completion deadline. It also does not say that all of the $5 billion already held was newly purchased after the attack.
Matching token quantities matters because a dollar allocation and an inventory of the assets customers hold are different measures. The announcement describes progress toward replacing those assets, rather than a completed token-by-token reconciliation that readers can independently check.
The $3B Freeze Is a Separate Recovery Effort
“These figures do not include frozen or protected assets,” Binance said.
The exchange is working with law enforcement, token issuers, blockchain intelligence companies and other partners to trace and recover additional funds. Its roughly $3 billion freeze figure remains separate from the more than $6.34 billion reserved from company resources.
Frozen assets cannot automatically be treated as money returned to Binance or paid to customers. Their eventual recovery remains subject to verification and the relevant recovery processes. Our full Binance hack explainer separates issuer restrictions, rescue transactions and funds still controlled by the attacker.
Public Reserve Verification Is Still Ahead
Binance said it would continue using company resources to cover confirmed shortfalls and ultimately verify user funds publicly through Proof of Reserves. The post presents that verification as a forthcoming step; it does not provide a new reserve snapshot or a wallet-by-wallet reconciliation.
The more than $6.34 billion figure is therefore a stated coverage allocation, rather than a newly established forensic total for the theft. It should not be added to earlier overlapping loss estimates as though it represents another drain.
The announcement expands on Binance’s earlier pledge to cover approximately $6.3 billion in losses through SAFU and company funds. The new amounts and token-matching progress are the exchange’s account; CoinScreamer has not independently verified the allocation.
The Funding Update Does Not Reopen Withdrawals
The post does not announce that withdrawals have resumed or set a new restart time. Binance’s earlier 08:47 UTC investigation update targeted a restart within 45 hours while keeping deposits available. That estimate runs from the earlier statement, not from this funding announcement.
Our withdrawal-service follow-up covers that timetable and the additional breach points disclosed by the company. Allocating replacement assets, recovering frozen funds and restoring withdrawals remain separate milestones in the response.
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