Binance has pledged full compensation for users affected by unauthorized fund withdrawals, as announced by the exchange’s press service on October 30.
Preliminary data indicates approximately $6.3 billion in assets were impacted by the incident. The company stated that specialists are currently investigating the breach details.
“Binance will cover all losses using funds from the SAFU account and the company’s reserves. Users’ funds remain secure,” representatives of Binance confirmed on social media platform X (formerly Twitter).
The exchange clarified that, in partnership with other entities, it has successfully frozen roughly $3 billion in stolen assets. Law enforcement agencies and blockchain analysis experts are actively tracking and processing refunds for affected users.
This incident represents the largest theft of cryptocurrency in history. Reports of a potential hack emerged on October 29, triggering immediate declines in Bitcoin and Ethereum values. After identifying the breach, Binance’s security team activated emergency protocols and temporarily suspended fund withdrawals for verification.
A preliminary damage estimate of $6.3 billion was published by Binance on its website, designating this event as one of the most substantial incidents in decentralized finance history.
