Binance Security Incident: Coverage Jumps, Will Withdrawals Reopen?

Binance Security Incident: 90% Covered, Will Withdrawals Reopen?

The Binance Security Incident reached a new stage on 31 October 2026, when the exchange said it had replaced 90% of the roughly $6.3 billion lost from its hot wallets. 

In crypto news today, readers want one answer: the Binance withdrawals reopen date, which the exchange has set for Sunday, 1 November 2026. Accurate as of 1 November 2026.

What Did the Exchange Announce in Its Latest Update?

According to its Update #3 on X, the Binance 90% coverage figure is up from roughly 80% in the previous update. 

The exchange has set aside more than $6.34 billion in company funds and said it will absorb the loss, not its users. Its official X account also covered this news in that tweet.

How Was the Loss Replenished?

The Binance hack 90% funds covered figure came from three sources:

• A partial deployment of SAFU (Secure Asset Fund for Users), expected over the next 24 hours.

• Part of the Binance futures insurance fund used for the purchases. The remaining balance is a regulatory requirement.

• The exchange’s corporate treasury.

BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are fully backed. 

The outstanding 10% sits in less liquid tokens outside that group, so each Binance OTC purchase may take longer, while OTC and market purchases continue. 

Stolen funds coverage is the next hurdle, and Binance hacked funds coverage 100% remains the stated goal. The exchange also pledged to see the Binance SAFU fund replenished to about $1 billion.

Binance Proof of Reserves 3 November: What Can Users Check?

The exchange took a new Proof of Reserve (PoR) snapshot at 2026-10-31 00:00 UTC. 

A full zero-knowledge proof needs roughly 40 to 50 hours, so holders of the ten tokens should be able to confirm 1:1 backed assets by Tuesday, 3 November 2026 (UTC), according to the exchange.

When Will Binance Withdrawals Resume?

The exchange said it remains on track to reopen on Sunday, 1 November 2026, and will share details once confirmed. 

In this Binance hack update, the Binance withdrawal date is a target, not a confirmed reopening. Users should watch official channels for the next Binance Security Incident notice.

Are Binance User Funds Safe or Not?

Is Binance safe to use now? The exchange says it will bear the loss and that its futures reserve stays above the required level, though no platform can fully avoid auto-deleveraging (ADL). 

Its Update #2 on X said hot wallets were compromised around 2026-10-29 20:05 UTC, and later checks found more breach points than a first suspected laptop.

The FBI statement attributes the theft of more than $6 billion to North Korea, under the “TraderTraitor” label, and says assets are being converted primarily into Ethereum.

BNB Price After Binance Security Incident Update Today

BNB price today was $702.88 on CoinGecko as of 1 November 2026, down 5.6% over seven days. 

The 24-hour range ran from $698.32 to $707.78, with a market cap of $92.442 billion and 24-hour volume of $664.541 million.

The seven-day chart shows a steep drop from the mid-$740s to the high - $690s, though CoinGecko states no cause.

Expert View

Analysts may read the 90% figure as a liquidity test for the Binance Security Incident, since the last 10% sits in thinner markets. 

Price direction could depend on a smooth reopening and timely proof. This crypto news is informational only and not investment advice.

Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency prices are highly volatile, and figures in this report are based on official statements and market data as of 1 November 2026, which may change. Readers should verify updates through official channels and do their own research before making any decision.