Binance Says It Covered 95% of $6.3 Billion Security Impact

Binance said it had covered about 95% of the financial impact from its Oct. 29 security incident, while withdrawals resumed in phases and balances in 10 named assets remained fully backed. The exchange estimated the incident’s total impact at about $6.3 billion in an Oct. 30 update.

Withdrawals began returning at 1 a.m. EST Nov. 1 (06:00 UTC). By 7:36 a.m. EST (12:36 UTC), they were available across 15 networks and assets in the first phase.

From 1 a.m. to 9:30 a.m. EST, Binance recorded $4.649 billion in withdrawals and $1.01 billion in deposits, a net outflow of about $3.64 billion. The exchange said that equaled 2.1% of its $171 billion in assets under management, using reserve data dated Oct. 28. Binance described withdrawal activity as easing after an initial spike, while deposits remained substantial.

The 95% figure refers to financial impact Binance has covered or replenished; it does not measure stolen assets recovered. The company said the remaining 5% involved less-liquid tokens outside the 10 named assets and that it was still buying them. The FBI attributed the theft of more than $6 billion from Binance to North Korea’s TraderTraitor activity.