Binance: $6.34B in corporate funds reserved to cover losses, user asset restoration underway

October 30: Binance said in a post on X that it has begun restoring affected user assets and continues to work with law enforcement, token issuers, blockchain intelligence firms and industry partners to trace, freeze and recover more funds. Binance said it has reserved more than $6.34 billion of corporate funds to cover losses from this incident, of which $5 billion is already held in the same type of tokens that were affected, while the remainder is being bought through market and OTC channels to make up the difference; because some tokens have low liquidity and OTC settlement takes time, this step may take a while. The amount excludes frozen or protected assets — about $3 billion has been frozen so far — and Binance is working with partners and law enforcement to advance recovery. Binance said it will continue to draw on corporate resources to cover the confirmed shortfall, and that all user funds will ultimately be publicly verifiable through Proof of Reserves.