The cryptocurrency exchange confirms full coverage of assets stolen in October’s North Korean-linked attack, publishes an updated proof-of-reserves snapshot covering 198 tokens and commits to restoring its $1 billion emergency fund. Binance has completed the replenishment of customer assets affected by its $6.3 billion cryptocurrency hack, confirming that all impacted holdings have been covered using company resources approximately two weeks after the largest reported digital asset theft in history. In an official announcement on November 12, 2026, the exchange said it had committed more than $6.34 billion to replace stolen cryptocurrency following the October 29 security breach.
The funds came from Binance’s corporate treasury, its Secure Asset Fund for Users (SAFU) and surplus capital from its Futures Insurance Fund. Binance also published an updated proof-of-reserves snapshot covering 198 cryptocurrencies, providing customers with additional information about the exchange’s asset backing. The announcement represents completion of Binance’s customer asset replenishment process, although investigations into the attack and efforts to recover the stolen cryptocurrency remain ongoing.
Binance Uses Corporate Reserves and Insurance Funds to Cover Losses
Binance began replacing stolen assets shortly after the October 29 attack, initially allocating more than $6.34 billion to address the losses. By October 31, the exchange had replenished approximately 90% of the affected holdings, including major cryptocurrencies such as Bitcoin, Ethereum, BNB, Solana, XRP, USDT and USDC. The remaining assets included less liquid cryptocurrencies that required additional purchases through exchanges and over-the-counter trading channels. On November 4, Binance reported that replenishment had reached approximately 98%, with the final outstanding assets requiring more time to acquire.
The company has now confirmed that the process is complete. Binance’s November 12 proof-of-reserves snapshot covers 198 tokens, substantially expanding the scope of its earlier disclosures. The exchange said the complete zero-knowledge cryptographic proof would require approximately 40–50 hours to generate, after which customers could independently verify reserve backing of at least 1:1 for covered assets. Binance also committed to rebuilding its SAFU emergency reserve to approximately $1 billion. Withdrawal services continue reopening in phases, meaning completion of asset replenishment does not necessarily indicate that every network and cryptocurrency withdrawal service has been fully restored.
DOJ Secures $1.2 Billion Seizure Authorization as Recovery Continues
The replenishment announcement follows significant developments in the U.S. investigation into the Binance breach. On November 12, the Department of Justice confirmed that government agencies and private-sector partners had frozen more than $2.7 billion in stolen cryptocurrency. Federal authorities also obtained court authorization to seize or restrain more than $1.2 billion of those assets. The FBI attributed the original theft to TraderTraitor, a North Korean military-linked hacking group associated with previous cryptocurrency attacks.
Investigators continue tracing stolen funds as the attackers attempt to move assets through cryptocurrency exchanges, blockchain bridges and mixing services. Importantly, Binance’s $6.34 billion replenishment does not mean the stolen cryptocurrency has been recovered. The exchange has replaced affected customer holdings using its own available resources, while law enforcement continues pursuing the assets controlled by the attackers. The distinction is significant because frozen or seized funds remain subject to legal proceedings and potential recovery arrangements. The incident has intensified scrutiny of cryptocurrency exchange custody practices, internal security controls and reserve transparency. Although Binance has completed its announced replenishment process, the longer-term financial impact will depend partly on successful asset recovery, the restoration of affected services and the rebuilding of emergency reserves.
