Grayscale said on Nov. 3, 2026, that the Oct. 29 Binance hack, which drained about $6.3 billion, could ultimately lead exchanges to improve security. The firm said 2026 crypto security losses exceeded $8 billion, but had declined over time relative to the crypto market’s value; excluding Binance, it put this year’s losses at a level comparable to last year’s.
Binance said in a Nov. 1 update that it had covered about 95% of the affected amount and would absorb the financial impact. Less liquid tokens made up the remainder and were taking longer to source. By Nov. 3, withdrawals had resumed for additional assets on Ethereum and Solana, while further restoration was proceeding in phases. Grayscale reported that issuers had frozen about $2.9 billion in stolen funds, but returning frozen tokens to victims would require further steps.
