Binance completes asset coverage after its $6.3 billion hack

Binance hack asset coverage is now complete, with $6.3 billion replaced. Customers await the zero-knowledge proof to verify their backing.

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Binance said on November 12, 2026, that asset coverage was complete following its $6.3 billion hack on October 29, 2026. The exchange also published a new Proof of Reserves snapshot, but the accompanying cryptographic proof needed for customers to independently check their backing remained pending.

Key takeaways

• Binance used three company funding sources to replace affected assets.
• The latest reserve snapshot awaits its zero-knowledge proof.
• PCAOB guidance distinguishes reserve reports from financial statement audits.

How Binance funded asset coverage after the hack

Binance funded replacement assets through the Secure Asset Fund for Users (SAFU), part of its Futures Insurance Funds, and its corporate treasury. Its October 31, 2026, recovery update reported more than $6.34 billion in company funds set aside, with replacement coverage at 90%.

The exchange said the futures insurance money belonged to the company, not customers. Transfers came from balances above its risk-framework requirement, and the remaining reserves continued to satisfy that requirement. Binance also committed to rebuilding SAFU to approximately $1 billion.