Binance opened its vault for 198 tokens
The exchange updated its Proof of Reserve data by covering the $6.34 billion loss from its own resources and emergency funds.
Quick Look
- Binance announced that it has covered all user losses in the $6.34 billion cryptocurrency theft that took place on October 29.
- The company issued a new Proof of Reserve covering 198 tokens, while financing the loss from its SAFU fund and corporate treasury.
AI-generated summary
Why It Matters
On October 29, there was a $6.3 billion cyber attack on Binance's hot wallets. The FBI blamed the North Korea-linked TraderTraitor group for the attack.
Cryptocurrency exchange Binance announced that it has covered all assets affected in the security incident on October 29. The company allocated more than $6.34 billion from its own resources for this. In the same statement, a new Proof of Reserves covering 198 tokens was also shared.
Following the incident, Binance stated that it allocated more than $6.34 billion of company funds to cover losses and began collecting the affected tokens from the market and over-the-counter (OTC) channels. This process was funded from three sources:
Part of the SAFU emergency fund set up to protect users
The portion of the futures insurance fund above the level required by the company's risk management rules.
Binance's own corporate treasury
The stock exchange also announced that it will bring the SAFU fund used to approximately 1 billion dollars. The fund will be kept at full capacity as an emergency reserve protecting users.
The new Proof of Reserve image was retrieved at 00:00 (UTC) on November 12, 2026 and covers 198 tokens. The data is available on Binance's Proof of Reserve page.
Creating a full zero-knowledge proof will take approximately 40 to 50 hours due to processing overhead. Once this is complete, users holding the affected tokens will be able to self-verify that their holdings are covered at least 1:1.
Binance continues to gradually reopen withdrawals and will announce new steps as they become clear. The company stated that it continues to invest in security infrastructure.
A small number of tokens that were affected by the incident and are no longer supported on the exchange will be considered within the scope of the delisting process. The losses of users holding these tokens will also be covered.
Approximately $6.3 billion worth of crypto money was stolen on October 29 in the attack targeting Binance's hot wallets. The incident was the largest cryptocurrency theft on record. The FBI blamed the North Korea-linked TraderTraitor group for the attack. It was announced that the attack started with a fake job interview against an engineer.
What to Watch
AI outlook — possibilities, not facts
Binance is gradually opening up withdrawals completely.
Very likely · Within days
Open Questions
- When will withdrawals fully return to normal?
- What concrete changes were made to the security infrastructure after the attack?
