Binance Hack: Were You Affected? What Customers Should Do Now
Binance says it will cover all hack losses and is reopening withdrawals. Five steps for customers, and how to avoid fake compensation and refund scams.
If you have a Binance account, your balance should be safe. Binance says it will cover every loss from the 29 October hack, and withdrawals began reopening on 1 November 2026. The biggest risk to customers now is not the hack itself. It is the wave of fake "compensation" messages that usually follows.
Was my account affected?
The attackers took money from Binance's own hot wallets, not from customer accounts one by one. Binance says user funds are safe and that it has set aside more than $6.34 billion to cover the loss. That money comes from its user protection fund (SAFU) and company funds.
Your account balance should not change. If it has, contact Binance only through the official app.
When can I withdraw?
Withdrawals were paused after the attack. Binance began reopening them in phases on 1 November 2026, starting with bitcoin. Other coins are being added as security checks finish.
Expect delays while the queue clears. A slow withdrawal is not, by itself, a sign of a problem.
Five steps to take now
- Use official channels only. Open the Binance app or type binance.com yourself. Do not click links in emails, texts or social media messages.
- Turn on strong login security. Use an authenticator app or a security key, not text-message codes.
- Check your account activity. Look at recent logins, devices and withdrawal addresses. Remove anything you do not recognise.
- Never share your codes or seed phrase. Binance staff will never ask for your password, two-factor codes or seed phrase.
- Ignore "refund" offers. No genuine service charges a fee to return hacked funds.
How to spot a fake compensation scam
Scammers copy big news stories within hours. Watch for these signs:
- A message says you are "eligible for compensation" and asks you to log in through a link.
- Someone asks for a "processing", "release" or "tax" fee before paying you.
- A "Binance agent" contacts you first on WhatsApp, Telegram or social media.
- A website looks like Binance but the address is slightly different.
If you see these signs, stop and report the message. Read more about fake recovery services.
Lost money to a fake Binance message?
Act fast. Save the messages and the transaction hash of every payment. Then trace where the money went for free and report the scam to police.
For the full story, see the Binance hack timeline.
Common questions
Is my money on Binance safe after the hack?
Binance says user funds are safe and that it will cover all losses from its user protection fund and company money. It has set aside more than $6.34 billion.
When can I withdraw from Binance again?
Binance began reopening withdrawals in phases on 1 November 2026, starting with bitcoin. Other coins follow as security checks finish. Check the official Binance app for the current status.
Do I need to fill in a form to be compensated?
Binance has not asked customers to fill in any outside form. Treat any message asking you to log in, pay a fee or share codes to get 'compensation' as a scam.