# Binance Says It Has Covered $6.34 Billion in Hack Losses

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/55940
Published: 2026-11-12T21:48:16.000Z
Updated: 2026-11-12T21:48:16.000Z
Section: Technology

> The exchange funded the coverage through SAFU, futures insurance funds and its treasury; customers cannot yet independently verify its new 198-token reserve snapshot.

Binance says it has completed coverage of customer assets affected by the Oct. 29 theft, committing more than $6.34 billion in company funds to restore balances as withdrawals resume in stages.

Its latest proof-of-reserves snapshot spans 198 tokens and was recorded at 7 p.m. ET Nov. 11 (00:00 UTC Nov. 12). The prior snapshot, dated Oct. 31, covered 10 tokens. Customers cannot yet check the new figures independently; Binance expects its zero-knowledge proof to take 40 to 50 hours to generate. Once it is ready, holders of affected tokens can verify whether their balances are backed at least 1:1.

Binance says it funded the replacement through a partial draw from its Secure Asset Fund for Users (SAFU), futures insurance funds above the minimum required by its risk framework, and corporate treasury funds. The exchange has committed to replenish SAFU to about $1 billion. A small number of delisted tokens were also affected, with holders to be covered through Binance’s delisting process.

The coverage addresses customer balances, but Binance’s announcement gave no total for stolen assets recovered. Withdrawals are reopening in phases, with further details to follow once confirmed.