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An independent record of the October 2026 Binance hack
This line is our short summary of the quote below. The quote is the evidence.
The full zero-knowledge proof takes approximately 40 to 50 hours to generate due to the computational workload, so users holding any of these ten tokens can independently verify that their assets are at a minimum 1:1 backed once the full proof is generated, estimated to be by Tuesday, 2026-11-03 (UTC).
The Futures Insurance Funds remain above the coverage level required under Binance’s established risk-management framework, helping ensure the fund remains available to support users during extreme market conditions. We monitor fund size continuously against historical stress scenarios reflecting extreme but plausible market conditions, and top it up when required. Due to volatility, no exchange can completely avoid auto-deleveraging, but we always strive to keep occurrences to a minimum. Will Binance replenish the Futures Insurance Funds? The funds are maintained above their required size. When the balance falls below the level our framework requires, Binance tops them up from company funds, as we have done previously. What was released was excess above that level, which is why it could be reallocated without affecting coverage.
Binance is committing to replenishing the SAFU to return the fund size to approximately US$1 billion.
We remain on track to reopen withdrawals within our previously stated timeframe (on Sunday, 2026-11-01) and will provide a further update as soon as details are confirmed.
All BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are fully backed 100%.
Our last update explained that Binance had set aside more than $6.34B in company funds to cover hacked losses, and we had already covered approximately 80% of the impacted amount of the hacked loss at that time. That covered amount is now up to 90%.