Binance said it has replaced approximately 90% of the cryptocurrencies taken in a $6.3 billion cybersecurity breach, and is moving to reimburse affected customers while targeting a resumption of withdrawals by Sunday.
The world’s largest cryptocurrency exchange repeated that it will shoulder the full financial burden from the incident so that customers do not bear the losses. In a public update, Binance outlined the sources used to replenish the stolen assets and provided new detail on the remaining shortfall.
Markets reacted quickly to news of the attack, with broad selling across digital assets. Bitcoin fell to a six-week low of $76,469.82 and was trading roughly 3% lower after the disclosure. Ether declined by more than 3%, and other major cryptocurrencies came under pressure as traders reacted to the scale of the theft.
Binance said it has been restoring the specific assets affected by the theft, naming Bitcoin, Zcash and the stablecoins USDT and USDC among those being replenished. The company said the funds being used for replacement are drawn from a combination of its corporate treasury, dedicated emergency reserves and existing insurance funds.
This announcement is an update from an earlier disclosure in which the exchange said it had covered about 80% of the assets taken. Binance explained that the tokens still outstanding are less liquid, which complicates sourcing and replacement efforts.
Withdrawals were temporarily suspended as part of Binance’s immediate response while it worked to contain the incident and refill the affected asset pools. The exchange said it is working to restore the ability for users to withdraw funds by Sunday.
In its statement, Binance reaffirmed its position on customer protection: "Binance will absorb the financial impact of the stolen funds, not users." The company framed the pledge as a direct commitment to prevent user losses stemming from the breach.
The size of the theft - $6.3 billion - has been characterized by observers as the largest hack in the history of cryptocurrency and one of the most significant cyber incidents more broadly. The episode has prompted intensified scrutiny of platform security and the measures firms take to protect customer assets as digital asset companies pursue broader mainstream adoption.
Binance’s actions to replace assets, cover the financial loss itself and signal a timeline for reopening withdrawals are central to its effort to restore market and user confidence in the wake of the attack.