UPDATE: Binance adds VIP protection and covers $6.3B breach via SAFU
CIE News ·
Update to UPDATE: Binance replenishes 95% of balances and reopens major network withdrawals
Confirmed by official primary sources.
Binance is covering losses from its $6.3 billion breach using SAFU reserves, while launching a 30-day VIP Level Protection Program alongside ongoing withdrawal restorations.
Binance confirmed it will fully cover the financial impact of an estimated $6.3 billion to $6.36 billion breach using its Secure Asset Fund for Users (SAFU) and corporate treasury, while launching a 30-day VIP Level Protection Program. As previously reported, the exchange initiated a progressive reopening of withdrawals across multiple networks, including BNB Chain and Ethereum (ETH), following an initial freeze after the incident. The VIP protection program locks qualifying users at levels 1 through 9 between October 21 and October 30 into their highest tier through December 2, 2026.
The measures address an October 29 security incident where attackers drained hot wallets via an unauthorized withdrawal transaction initiated from a compromised DevOps workstation. The Federal Bureau of Investigation stated that North Korea-affiliated group TraderTraitor was behind the theft of over $6 billion in virtual assets, with stolen funds converted into ETH across multiple chains. Binance reported that it has replenished about 95% of impacted balances using platform reserves and that no private keys were leaked during the attack.
Key facts
- $6.3B-$6.36B drained on Oct 29
- SAFU fund to cover all losses
- 30-day VIP protection launched
- 95% of balances replenished