Binance reported on October 31, 2026 that it has already restored 90 percent of the $6.3 billion stolen from its users in the largest crypto hack on record, using the company's own funds, and that it will also cover the remaining 10 percent, according to The Verge. The exchange has kept withdrawals paused and says it expects to reopen them on Sunday, November 1.

The rest of the haul consists of less liquid tokens, which the company estimates will take longer to acquire. The company said on X that its commitment is to fully cover the financial impact of the incident: "Binance will fully cover the financial impact of the funds stolen in this incident". On October 29, at 16:20 US Eastern time, the platform's hot wallets began to be drained across ten blockchains at once: in about twenty minutes roughly $6.36 billion flowed out, according to the analytics firm TRM Labs in Energía Hoy's tally.

This matters for Mexico because crypto is no longer a distant issue. Binance is one of the platforms most used by Mexican users to buy and move cryptoassets, and the restoration announcement is the first concrete signal that those affected do not face a total loss. The figure is four times the previous record, the attack on Bybit in February 2025, of $1.5 billion.

The case leaves several technical lessons that any company with critical systems can read:

  • Binance's first version pointed to a compromised engineer's laptop; the company later acknowledged additional entry points, that is, a chain of failures that crossed more than one control. - The simultaneous extraction across ten chains suggests a prepared operation, not an opportunistic intruder, according to the analysis cited by Energía Hoy. - TRM Labs concluded with high confidence that TraderTraitor, linked to the Lazarus Group, is behind it; Chainalysis reached the same conclusion, although at least one researcher warned that the evidence does not conclusively identify Lazarus. - Containment came from outside: Tether and Circle blocked between $2.7 billion and $2.8 billion in stablecoins.

Binance says it has set aside more than $6.34 billion of its own funds to cover losses, and the FBI and the US Secret Service are investigating the case. The date to watch is Sunday: if withdrawals resume operating normally, the episode will move from contingency to accountability before users.

This article was written with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.