In a nutshell: After the October 29 Binance hack (~$6.3B impact), Binance says it has replenished about 95% of affected assets (up from ~80%, then ~90%), restarted phased withdrawals on November 1 with a second wave from 04:00 UTC on November 3, and published a completed Proof of Reserves zero-knowledge proof for an October 31 snapshot covering ten major tokens. The exchange says it will absorb all direct losses; remaining coverage is mostly less-liquid tokens outside the top ten.
Last updated: November 3, 2026, midday Asia/Karachi. Coverage %, withdrawal routes and PoR status can change hour by hour — confirm on official Binance pages before you act.
Where Binance Recovery Stands Now
On October 29–30, Binance disclosed a security incident with an estimated impact of about $6.3 billion, paused withdrawals, and said user losses would be covered with SAFU and company funds. Our earlier report covers that incident in full: Binance hack: $6.3B impact, withdrawals paused, SAFU cover.
This follow-up tracks what has happened since — especially replenishment, withdrawals and Proof of Reserves — using Binance’s numbered recovery updates and major outlet reporting.
Asset Coverage: From ~80% to ~90%, Then ~95%
In Recovery Update #3 (October 31), Binance said the covered share of the impacted amount had risen from about 80% to 90%. It stated that BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC were fully backed at 100%, and that it would keep buying the rest through market and OTC channels until every affected token reaches 100%. CNA reported the same 90% figure that day.
By Recovery Update #4 (November 1), Binance said coverage had moved to about 95%, with the outstanding 5% still in less-liquid tokens outside those top ten. CoinDesk and Recovery Update #5 (November 2) repeated the ~95% figure. As of this writing on November 3, Binance has not published a higher official percentage in Updates #5 or #6.
How Replenishment Was Funded
Update #3 said replenishment used:
- a partial deployment of SAFU (the Secure Asset Fund for Users), with the updated on-chain balance viewable publicly;
- a portion of the Futures Insurance Fund, while keeping a remaining balance in the fund;
- Binance’s corporate treasury.
Binance also said it is committing to replenish SAFU back toward roughly US$1 billion so the emergency reserve stays ready for users (Update #3). Company statements that Binance will cover all direct losses and will not pass the financial impact to users appear across Updates #3–#6.
Withdrawals: Phase One Nov 1, Phase Two From Nov 3
Phase one: Update #4 said Binance was preparing to resume withdrawals on 2026-11-01 between 06:00 and 09:00 UTC, rolling out network-and-asset pairs after security and readiness checks. CoinDesk reported that bitcoin and assets on other listed networks began returning in that first window, and that deposits had stayed open throughout.
Phase two: In Recovery Update #6 (November 3), Binance said withdrawals for additional listed assets would reopen beginning at 04:00 UTC on 2026-11-03 (09:00 Asia/Karachi). Networks called out for this wave include BSC, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base, with long asset lists per network (for example more stables, altcoins and wrapped products on BSC and ETH). CoinTelegraph and Reuters-wire coverage match that 04:00 UTC start.
Binance stresses that not every listed asset opens at once, that pairs return only after checks, and that users should confirm availability on the withdrawal page or network status page. Temporary delays or failed attempts during heavy traffic are expected — retry later rather than following anyone who offers to “speed up” a withdrawal for a fee.
Proof of Reserves: Oct 31 Snapshot ZK Proof Is Live
Update #3 said Binance took a fresh Proof of Reserves snapshot at 2026-10-31 00:00 UTC, with the full zero-knowledge proof expected to take about 40–50 hours (then estimated around Tuesday, November 3).
Update #5 (November 2) said that ZK proof is now complete: holders of the ten fully backed tokens can independently verify at least 1:1 backing via Binance’s PoR verifying tool (login on the official site, then download and run the verifier on your own computer). The Block reported the same completion and noted Co-CEO Richard Teng’s public confirmation on X.
Binance plans another snapshot on 2026-11-04 covering more tokens, with another ~40–50 hours expected to generate that proof. A PoR check is a cryptographic inclusion/backing check for a snapshot — not a full financial audit of the exchange.
Scam Warning: Passwords, OTPs and Seed Phrases
Across recovery emails and announcements, Binance warns users to follow official channels only. It says Binance will never ask for your password, OTP codes or seed phrase. Update #6-era coverage also flags fake “priority withdrawal,” “compensation” or “Binance vault” pitches that spike while withdrawals return in phases (CoinTelegraph). If someone DMs you claiming to be Binance support, treat it as a scam.
US, Canada and Australia Notes
United States: The incident and recovery updates apply to the global Binance.com platform. Binance.US previously said it was a separate platform and was not affected by the October breach — US users on Binance.US should still ignore phishing that rides the headlines.
Canada and Australia: Binance.com users in those markets should treat the global withdrawal and PoR status as what applies, and verify only on official Binance pages. In Australia, remember that crypto service providers may be AUSTRAC-registered for AML/CTF purposes, and that moving coins between an exchange and self-custody can have ATO record-keeping implications even when no “sale” feels like it happened — see our guides on centralized exchanges and custody risk. None of this is tax or investment advice.
FAQ
Has Binance reopened withdrawals after the hack?
Yes, in phases. Phase one began November 1 (06:00–09:00 UTC window). Phase two for more assets began at 04:00 UTC on November 3. Availability is asset-and-network specific — check Binance’s withdrawal or network status page.
What share of stolen assets has Binance replenished?
About 95% as of Updates #4 and #5 (November 1–2), after ~80% then ~90% in earlier updates. Ten major tokens are described as 100% backed; the rest are less-liquid names still being sourced.
Is the Proof of Reserves ZK proof out?
Yes for the October 31, 00:00 UTC snapshot. Update #5 (November 2) said the zero-knowledge proof is complete for BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC. A broader snapshot is planned for November 4.
Will users eat the losses?
Binance’s public line across recovery updates is that it will absorb the financial impact of the stolen funds and will not pass those losses to users. That is a company commitment, backed by disclosed SAFU/treasury/insurance-fund funding — still verify balances via official PoR tools where available.
Sources
- Binance: Recovery Update #3 (2026-10-31) — 90% covered, PoR snapshot
- Binance: Recovery Update #4 (2026-11-01) — phased withdrawals, ~95%
- Binance: Recovery Update #5 (2026-11-02) — PoR ZK proof complete
- Binance: Recovery Update #6 (2026-11-03) — more withdrawals from 04:00 UTC
- Binance Proof of Reserves
- CoinDesk: phased withdrawals and ~95% replenishment
- The Block: PoR ZK proof completed
- CoinTelegraph: second withdrawal phase
- CNA: Binance says 90% replenished
- NutshellCrypto: Binance hack incident report (Oct 30)
Related: Bitget withdrawals after the $388M hack · What is a centralized exchange? · What is RLUSD?
Disclaimer: This article is for informational and educational purposes only. It is not financial, investment, legal or tax advice. Cryptocurrency and exchange custody involve risk. Always verify status on official Binance channels and do your own research.
