Binance has fully allocated the funding required to reimburse customers for the $6.3 billion stolen in its recent cyberattack, including the final 5% of assets tied to less liquid tokens. Founder Changpeng Zhao confirmed the exchange used its own corporate balance sheet to cover the total loss, stating the company did not raise capital, borrow money, or sell existing assets to resolve the security breach.
As the firm restores withdrawals in stages, users withdrew $4.649 billion and deposited $1.01 billion between 06:00 and 15:30 UTC on Sunday, resulting in a net outflow of $3.64 billion. This amount represents about 2.1% of the exchange’s $171 billion in reported assets. To reassure customers, Binance has enabled zero-knowledge proofs for 10 major assets, including Bitcoin and Ethereum, to verify balances are backed 1:1, and will restore withdrawals for additional networks and assets on Nov 3.