Binance said it has started backfilling assets affected by the recent hack and has prepared more than $6.34 billion in corporate funds to cover the losses. Of that amount, more than $5 billion in matching tokens is already in place, while the rest is being acquired through public markets and over-the-counter trading.
In a post on its official X account late on Oct. 30 Taipei time, Binance said it would continue working with law enforcement, asset issuers, blockchain intelligence firms, and industry partners to trace, freeze, and recover more related funds.
More than $6.34 billion in company funds set aside
Binance reiterated that it had already committed to covering the stolen assets with company funds. In the latest update, the exchange said it has prepared more than $6.34 billion in corporate capital for that purpose.
According to the company, more than $5 billion worth of the corresponding tokens has already been secured, with token types matching the affected assets. The remaining gap is being filled through open-market purchases and OTC channels, with the goal of matching both the token types and the amounts tied to user losses.
Binance said some tokens have limited liquidity, and OTC settlement takes time, which could extend the backfilling process. It said more progress updates will follow.
CoinDesk, citing an email from a Binance spokesperson, reported that the company is using its own funds to assemble the exact token mix corresponding to user losses rather than using customer assets.
About $3 billion has been frozen
Binance said the figures disclosed do not include assets that have already been frozen or otherwise protected. About $3 billion has been frozen so far, and the exchange said it is working with partners and law enforcement to recover those funds. If a shortfall remains after that, Binance said it will continue using company resources to cover it and will ultimately verify all user funds through Proof of Reserves, or PoR.
Withdrawals still paused for 45 to 48 hours
Based on an earlier service update, deposits remain normal, while withdrawals are still suspended because of security checks and related address changes. Binance said the expected timeline for resuming withdrawals remains around 45 to 48 hours, and the latest backfilling update did not change that schedule.
The report said market attention is now on whether high-liquidity assets can be matched first and when lower-liquidity altcoins will be fully replenished. For users, the arrival of company-funded matching tokens provides the most direct liquidity buffer before withdrawals reopen. Binance also said that if low-liquidity tokens require extended OTC matching, balance alignment for some individual assets may take longer than for major tokens.
