Binance Says 95% Of ...

Binance Says 95% Of Affected Tokens Restored as CEO Defends Exchange’s Finances

By José Oramas November 04, 2026 In Binance, Cryptocurrency

Binance co-CEO Richard Teng told Hong Kong Fintech Week on Tuesday that 95% of the tokens affected by the hack had been replenished.
Teng put the figure at 98% later that day, as Binance published its initial findings on the 29 October attack.
Binance said it set aside more than 100% of the loss, drawing on its SAFU fund, a futures insurance fund and its treasury.

Binance co-CEO Richard Teng said on Tuesday that the exchange had replenished 95% of the tokens affected by last week’s hack, speaking at Hong Kong Fintech Week.

He raised that figure to 98% later the same day, when Binance published its initial findings on the 29 October attack the FBI has attributed to North Korea.

https://twitter.com/binance/status/2116744986096292263

Flows Since Reopening

Teng said withdrawals spiked in the first 24 hours after Binance reopened them and have since largely normalised. Binance’s own chart of hourly flows runs from 6:00 a.m. UTC on 1 November, when withdrawals restarted, to 4:00 a.m. UTC on Tuesday.

Users withdrew US$10.97 billion (AU$15.69 billion) over that window and deposited US$5.695 billion (AU$8.14 billion). That left a net outflow of US$5.276 billion (AU$7.54 billion), by Binance’s count. In the chart’s final hour, deposits of US$193 million (AU$276 million) topped withdrawals of US$183 million (AU$262 million).

Teng told Fox Business that the last 2% of tokens are less liquid, and that Binance needs time to buy them without disrupting their markets. Binance said on Sunday it was sourcing them through the open market and over-the-counter desks.

Treasury and Insurance Funds

Binance’s report puts the loss at about US$6.34 billion (AU$9.07 billion) and says the exchange set aside more than 100% of the funds needed to cover it.

An update on 31 October said that money came from part of SAFU, Binance’s emergency user fund, along with part of its futures insurance fund and its corporate treasury.

SAFU was set up in July 2018 and is held by Nest Clearing and Custody, a clearing house regulated in Abu Dhabi Global Market. Binance, which pledged to cover all losses after the theft, has committed to refilling SAFU to about US$1 billion (AU$1.43 billion). It has given no timeline for that.

Teng said on X that Binance had completed its latest proof-of-reserves verification. Co-CEO Yi He said on Monday that users could check a zero-knowledge proof covering ten tokens in the exchange’s 31 October reserves snapshot.

The report says about US$2.85 billion (AU$4.08 billion) of the stolen assets has been frozen or intercepted, with help from law enforcement, token issuers and blockchain intelligence firms.

Binance traces the breach to a tampered Homebrew installer used by one engineer in June and fake recruitment interviews that targeted another in September. It said it has detected 57 suspected North Korea-linked cyber threat cases this year. Binance is also bringing in independent cybersecurity experts to review the incident.