# Binance Says It Will Cover $6.3 Billion in Security Incident Losses

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/48729
Published: 2026-11-04T19:02:15.000Z
Updated: 2026-11-04T19:02:15.000Z
Section: Technology

> The exchange says it rebuilt the affected wallet system and replaced affected devices and credentials by Nov. 3.

Binance will cover $6.3 billion in losses from a recent security incident, Chinese community lead Sisi said, as the exchange says it has rebuilt affected wallet systems and completed security fixes.

Sisi said user assets remained on the platform and Binance had not used them. After withdrawals reopened, Binance met demand on a scale comparable to the stolen amount, she said. Binance said frozen or intercepted funds would be tracked for recovery with law enforcement and on-chain firms.

As of Nov. 3, the affected wallet system had been rebuilt in a new environment. Binance replaced all affected devices, invalidated credentials and tokens, and rebuilt its internal artificial intelligence tools with tighter access controls. It also strengthened device scanning, wallet risk controls and anomaly detection.

The FBI attributed the attack to a nation-state adversary. Binance said it had blocked 57 suspected attacks from the same source this year. Attackers spent months infiltrating the company through fake recruitment, modified development tools and zero-day malware; an internal AI tool served as a pivot in the attack.

Binance said it would share attack indicators with other exchanges and join industry alerts and suspicious-fund tracking. It plans to invite an independent security organization to review the fixes and publish its findings when the review is complete.