New Delhi, October 31, 2026 (Yes Punjab News)
Cryptocurrency exchange Binance on Saturday said it had covered around 90 per cent of the losses linked to a security breach estimated at approximately $6.3 billion, reiterating that users would not face any financial impact from the incident.
In an update posted on social media platform X, the world’s largest cryptocurrency exchange said it had previously allocated more than $6.34 billion in company funds to address the losses. It said coverage of the affected assets had now increased from approximately 80 per cent to 90 per cent.
Binance stated that major digital assets, including Bitcoin (BTC), were currently backed on a one-to-one basis.
The exchange said it would continue acquiring the remaining affected assets through open-market purchases and over-the-counter transactions until the losses were fully covered.
According to the company, the replenishment effort involved partial deployment of its Secure Asset Fund for Users (SAFU), a portion of its futures insurance fund and contributions from its corporate treasury.
The outstanding 10 per cent primarily comprises less-liquid tokens, which Binance said could take longer to source in sufficient quantities.
The update came a day after the exchange disclosed a major security incident and temporarily suspended deposits and withdrawals while carrying out security reviews.
Binance had said preliminary findings indicated that a DevOps engineer’s laptop was compromised, allegedly enabling attackers to access a service container and initiate unauthorised withdrawal transactions.
The company has maintained that user funds remain safe and said it had found no evidence of private key leakage.
Binance also said it had worked with blockchain partners and law enforcement agencies to trace and freeze the affected assets, with approximately $3 billion frozen on-chain so far.
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