Victims of the biggest reported crypto theft in history can finally breathe a sigh of relief.
Binance announced Thursday that it has finished replacing all the cryptocurrency stolen in last month’s massive hack.
The world’s largest crypto exchange said it committed more than $6.34 billion in company funds to cover the losses from the October 29 attack. Over the past two weeks, Binance has been buying replacement tokens through regular markets and over-the-counter transactions.
Binance derived the money for the reimbursements from a mix of the exchanges’s Secure Asset Fund for Users (SAFU), futures insurance fund, and corporate treasury.
Binance also said it plans to replenish SAFU to roughly $1 billion in preparation for future emergencies.
The exchange also published a new Proof of Reserves snapshot, which covers 198 tokens, to show that it has enough assets to back customer holdings on a one-to-one basis. Binance said users will be able to independently verify their holdings once it generates the full proof, a process the exchange said it expected to take 40 to 50 hours.
Binance said it will continue restoring withdrawals in phases in the meantime.
“To our users and community: thank you for your patience and understanding,” the company posted on X.
While Binance says customers won’t be left hanging for the stolen crypto, plenty of questions remain about the historic heist.
On October 29, Binance confirmed that it had experienced a security incident involving approximately $6.3 billion in cryptocurrency. Blockchain security firm TRM Labs later reported that hackers stole the assets from Binance wallets across 10 blockchains, with most of the money vanishing in roughly 20 minutes.
TRM Labs attributed the attack to TraderTraitor, a North Korean hacking group also linked to the $1.5 billion theft from crypto exchange Bybit in February 2025. The Federal Bureau of Investigation (FBI) has since also blamed North Korea for the attack.
Binance said nearly $3 billion in stolen assets had been frozen or intercepted shortly after the hack. The company is reportedly working with the FBI to recover these funds.
Meanwhile, the hackers have been moving portions of the remaining cryptocurrency through thousands of wallets and transactions to hide its origins, Bloomberg reports. They even created memecoins to launder about $430,000 in stolen assets.
Binance’s initial investigation suggested that the attack may have started with a compromised laptop belonging to a DevOps engineer, although the company has since identified additional points of breach.
In Thursday’s announcement, Binance said it is continuing to strengthen its security infrastructure.
Binance did not immediately respond to a request for comment.
