DUBAI – Millions of Binance users are waiting for the return of withdrawals after record $6.3 billion crypto hack. With 90% of stolen assets replaced, the world’s largest cryptocurrency exchange revealed target date for reopening withdrawals, offering fresh hope to worried investors.
Over weekend, Binance announced major breakthrough in its recovery efforts, revealing that it has replaced 90% of the staggering $6.3 billion stolen in a sophisticated cyberattack that has shaken the global digital asset industry.
The world’s largest cryptocurrency exchange confirmed on Saturday that it had mobilised billions of dollars from its own reserves to restore the missing assets, assuring millions of customers that they would not be forced to pay the price for the massive security breach.
The unprecedented attack, which took place on Thursday, is believed to have become the largest cryptocurrency heist ever recorded, surpassing the notorious $1.5 billion Bybit hack of 2025.
Despite the enormous financial damage, Binance has pledged to compensate customers for 100% of their stolen holdings. The company revealed that more than $6.34 billion had been earmarked from its corporate funds and other available financial resources to cover the losses. While approximately 90% of the stolen cryptocurrency has already been replaced, Binance acknowledged that obtaining the remaining 10% could take longer because some digital assets are difficult to acquire in such large quantities.
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The exchange stressed that the financial burden would fall entirely on the company rather than its customers. The recovery programme covers Bitcoin, Ethereum and Tether, alongside seven other widely traded cryptocurrencies.
For millions of cryptocurrency investors, the immediate concern is when they will regain access to normal withdrawal services. Binance said it was working towards reopening withdrawals on Sunday, November 1, following emergency measures introduced after the cyberattack.
The exchange maintained that its recovery arrangements remained on schedule, although a final confirmation would be issued once the necessary security and operational checks were completed. The planned reopening represents a critical test of confidence for the platform, which serves an estimated hundreds of millions of customers around the world.
Investigators are now examining how cybercriminals managed to penetrate the security systems of one of the world’s most powerful cryptocurrency exchanges. Binance initially suspected that the attack began when an engineer’s laptop was compromised, potentially allowing hackers to gain access to systems used for cryptocurrency withdrawals.
However, deeper investigations uncovered additional points of intrusion, suggesting that the attackers exploited multiple weaknesses rather than relying on a single compromised device.
As investigators race to trace the missing cryptocurrency, Binance has already reported significant progress in restricting access to stolen funds. By Friday, approximately $3 billion in stolen digital assets had been frozen through coordinated efforts involving law enforcement agencies, blockchain intelligence firms and industry partners.
US Secret Service has also joined the effort, confirming that it is working extensively with private-sector specialists to identify suspicious transactions, freeze stolen assets and trace the movement of cryptocurrency linked to the breach. However, freezing stolen funds does not automatically mean that the assets have been returned to Binance, and the broader recovery investigation remains ongoing.
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