Binance hack funds restored: the exchange says all $6.3 billion stolen in the October breach is now covered, while BNB falls with the market
The announcement, reported by Bloomberg and Investing.com, closes the most visible part of a two-week recovery. Binance had earlier said about 10% of the stolen funds would need more time to replace, and its progress updates moved through 90% and then 95% coverage in the first days of November, according to earlier reports. Withdrawals resumed in early November, CNN reported at the time. Authorities and analysts have attributed the theft to North Korea.
What the market is pricing
Spot prices and 24-hour changes are from Binance's ticker, read at 21:03 UTC on November 12, 2026. Funding is from BetG8's live crypto funding rates page for Hyperliquid perpetuals, stamped at the same minute.
| Asset | Price (Binance) | 24h change | Hyperliquid funding (APR) |
|---|---|---|---|
| BNB | $654.82 | -4.64% | -3.6% |
| Bitcoin | $71,447.59 | -4.28% | +11.0% |
| Ether | $2,016.72 | -2.98% | +11.0% |
BNB fell slightly more than bitcoin on the day, so the restoration news did not offset the wider selling. Funding on BNB perpetuals was mildly negative, meaning shorts were paying longs, while bitcoin and ether showed only Hyperliquid's baseline interest rate of about 11% a year. On the prediction market side, the chance that bitcoin reaches $100,000 before the end of 2026 was 4.5% on Polymarket and 6.5% on Kalshi on the same page.
How the money was replaced
Binance says it covered the losses from its own resources: company profits and emergency reserves, according to Investing.com's report. That matters for customers because it means the shortfall was not passed on through haircuts or socialized losses, and for the wider market because it avoided forced selling of other assets to raise cash. The harder part was the last tranche. Large amounts of less liquid tokens cannot be bought quickly without moving their prices, which is why the final roughly 10% took weeks rather than days.
Where the stolen funds went
The breach appears to have started with a phishing attack on an engineer through a fraudulent job offer, Investing.com reported. Blockchain analytics firm Elliptic counted more than 20,000 wallets and at least 65,000 transactions used to move the funds within a week, including about $430,000 laundered through memecoins. Chainalysis said Chinese money-laundering networks helped convert the stolen crypto to cash. Recovering stolen funds from that kind of trail is slow and rarely complete, which is why exchanges that can afford it replace customer balances first and pursue recovery later.
What to watch next
Watch for a full incident report from Binance and for any statement from US or other authorities on the attribution and on seized funds. Watch BNB relative to bitcoin: if the exchange token keeps underperforming after the recovery is complete, that would suggest the market is pricing something beyond the hack itself. Our earlier coverage of the FinCEN order and blocked withdrawals covers a separate regulatory thread, and our comparison of Hyperliquid vs Binance looks at how centralized and on-chain venues differ on custody risk.
Method and limits
Prices are from Binance's public 24-hour ticker, with change computed as last price divided by the price 24 hours earlier, read at 21:03 UTC on November 12, 2026. Funding and bitcoin price odds are from BetG8's live page, refreshed every five minutes. Facts about the hack and recovery come from Bloomberg, Investing.com and CoinDesk; Binance has not published a full breakdown of which reserves were used. Nothing here is investment advice, and these are market prices, not predictions.
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Frequently asked questions
Has Binance restored the funds lost in the hack?
Yes. Binance said on November 12, 2026 that it has fully restored all $6.3 billion in customer assets taken in the October 29 breach.
How did Binance cover the $6.3 billion?
It used company profits and emergency reserves, according to Investing.com. Most tokens were replaced within days, and the last roughly 10% took longer to source.
What is the BNB price after the announcement?
At 21:03 UTC on November 12, 2026, BNB was $654.82 on Binance, down 4.64% over 24 hours, in line with a broad market decline.
Sources
- Investing.com, Binance restores all $6.3 billion stolen in October hack
- Bloomberg, Binance finishes covering $6.3 billion of stolen customer tokens
- CoinDesk, Binance arranges $6.34 billion to cover losses from record crypto hack
- Yahoo Finance (CNN), Binance withdrawals resume following $6 billion hack
- Binance, BNBUSDT spot ticker, read 21:03 UTC, November 12, 2026
18+ only. This page reports market prices and published facts; it is not betting, financial or legal advice, and prices are not predictions. If gambling stops being fun, help is available at 1-800-GAMBLER.