October 31 brought fresh developments across four cryptocurrency platforms, from Binance’s efforts to replace $6.3 billion in stolen assets to an unauthorized withdrawal of 97 million CORE tokens from b14g. This crypto roundup also examines how a $44 million whale withdrawal depleted Jupiter Lend’s available USDC before withdrawals resumed, alongside a smaller security incident at AI trading platform VergeX. The cases involve different problems: exchange-wallet compromise, staking losses, lending-pool liquidity and attempted unauthorized withdrawals.
Binance replenishes 90% of assets stolen in $6.3 billion hack
Binance said Saturday that it had replenished approximately 90% of the cryptocurrency stolen during its October 29 security breach, up from 80% in its previous recovery update. The exchange has set aside more than $6.34 billion to cover the incident and maintains that customers will not bear the financial losses.
The attack began at approximately 20:05 UTC on October 29, when unauthorized transactions drained assets from Binance’s hot-wallet infrastructure. The exchange initially identified a potentially compromised employee laptop, although subsequent investigations uncovered additional points of intrusion. Binance says it has not found evidence that wallet private keys were leaked.
According to its October 31 announcement, Binance has restored full reserve backing for ten major cryptocurrencies: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC.
The replenishment draws on Binance’s corporate treasury, its Secure Asset Fund for Users (SAFU) and part of its Futures insurance fund. The remaning 10% consists of less-liquid tokens that Binance is still purchasing through exchanges and over-the-counter markets, with no confirmed completion date.
Replacing stolen assets is different from recovering the cryptocurrency taken by attackers. In its October 30 update, Binance reported that approximately $3 billion in stolen funds had been frozen on-chain through cooperation with blockchain investigators, asset issuers and other exchanges. Those frozen assets are part of a separate recovery process and should not be counted as additional replenishment.
The exchange has also taken a new Proof of Reserves snapshot dated October 31 at 00:00 UTC. The seperate full cryptographic proof is not ready yet, with Binance targeting November 3 for completion. Customers holding the ten fully backed tokens are expected to be able to verify their balances against the published reserves once that process finishes.
The confirmed breach represents a substantial change from the initial uncertainty surrounding earlier reports of unusual Binance wallet transfers on October 29. Those preliminary reports identified approximately $3.55 billion in transaction activity without establishing an actual theft. Binance’s subsequent disclosures confirmed a considerably larger security incident, although the earlier transaction total should not be treated as a separate measure of losses.
Withdrawal services remain another immediate concern. Binance is targeting November 1 for a phased reopening, subject to the completion of security checks. Its October 31 announcement did not confirm that withdrawals had already resumed.
The restrictions have also reached affiliated operations. Binance TH temporarily suspended cryptocurrency withdrawals despite stating that its customer assets were held in segregated custody infrastructure. The Thai platform’s October 30 update said trading, cryptocurrency deposits and Thai-baht transfers remained available, with no irregularities identified during initial checks.
Regulatory attention has followed. The Abu Dhabi Global Market’s Financial Services Regulatory Authority confirmed it was engaging with Binance and monitoring the security incident. The authority identified client protection and orderly market functioning as its priorities.
b14g reports unauthorized withdrawal of 97 million CORE tokens
Bitcoin-yield platform b14g disclosed a separate security incident on October 31 involving approximately 97 million CORE tokens staked through its infrastructure.
According to the project’s security announcement, unauthorized withdrawals occurred at 09:29 UTC, transferring the tokens to attacker-controlled addresses. b14g subsequently paused affected contracts and began coordinating with the Core blockchain team, exchanges and security researchers.
The initial tracing identified approximately 68 million CORE remaining on the Core network, while exchange partners had frozen another 9 million CORE linked to the attacker. The project disclosed two addresses associated with the incident, including 0x27758c30f8e424fbd8ca605bf31e9496c26ce92c.
These amounts describe the preliminary location and restrictions affecting stolen tokens, not a confirmed recovery total. The available disclosures do not establish whether the identified balances overlap, how much can ultimately be returned or which parties retain control over the assets.
Those frozen tokens have not been recieved back by users simply because exchanges have restricted their movement. Funds held in attacker-controlled wallets on the Core network may also remain inaccessible without further recovery measures.
b14g said Bitcoin staked through its platform remains time-locked on the Bitcoin network and was unaffected. The incident therefore concerns CORE staking infrastructure rather than a confirmed compromise of the platform’s underlying Bitcoin deposits.
The company has not established the technical cause, the final dollar value of the loss or the number of affected customers. It plans to publish a detailed post-mortem and further instructions for affected users.
The size of the reported token withdrawal is substantial, but without a verified valuation and transaction-level accounting, converting the 97 million CORE figure into a definitive financial loss would be premature.
Jupiter Lend restores USDC withdrawals after $44 million exit
Jupiter Lend’s USDC liquidity crunch has ended, according to an October 30 announcement from Jupiter Earn, following an unusually large withdrawal that almost completely exhausted the lending pool’s immediately available funds.
The original disruption began on October 29 at approximately 21:56 UTC, when a whale withdrew $44 million in USDC. Blockchain analytics firm Bitquery calculated that the transaction removed 99.94% of the pool’s available liquidity.
By 16:18 UTC on October 30, the pool reportedly had just $88.89 immediately available for withdrawal against approximately $416.1 million owed to depositors. Only $88.89 was availble at that point, which was hardly cash for a lending pool of that size.
Bitquery’s investigation connected the withdrawal to a cluster of Solana wallets that had repeatedly moved USDC around midnight UTC for 471 nights since July 2025.
The cluster allegedly transferred approximately $70.9 million to a Circle-labeled wallet after withdrawing funds from Jupiter Lend and Kamino. Another associated borrowing wallet still owed Jupiter Lend approximately $114.5 million in USDC, secured by JLP collateral valued at roughly $188.1 million during the investigation.
Those transactions demonstrate concentration among large borrowers and depositors, but the wallet analysis does not identify the beneficial owner. Nor does transferring USDC to a wallet associated with Circle establish misconduct.
Jupiter maintained that the lending protocol was functioning as designed and that depositor funds remained safe. The problem concerned how much USDC was immediately available when most deposits had already been lent to borrowers.
Jupiter Earn announced at 22:16 UTC on October 30 that liquidity had been replenished and USDC withdrawals were available again. By 07:18 UTC on October 31, data from Jupiter Lend’s public API, reported by Solana Compass, showed approximately 29.4 million USDC withdrawable from around 441 million supplied to the vault.
That represents roughly 6.7% of deposits available for immediate withdrawal. The cash came back, but the pool was still thin, thinner than its typical liquidity cushion earlier in October.
The situation resembles the withdrawal-access problems documented during Aave’s earlier liquidity crunch following the Kelp DAO exploit, when heavy borrowing left depositors unable to withdraw freely. The circumstances differ: Jupiter’s latest disruption was traced to a large depositor withdrawal rather than a confirmed exploit of Jupiter Lend itself.
Bitquery’s findings also place unusual concentration on one wallet cluster that held both substantial deposits and a large collateralized loan. The borrowing position represented approximately 28% of Jupiter Lend’s USDC borrow-vault loans at the research cutoff.
Although withdrawals have resumed, the size of that remaining loan and the proportion of liquidity available for redemption are more informative measures of the pool’s exposure than the temporary $88.89 balance alone.
VergeX reports full recovery after 3,688.58 USDC incident
AI trading platform VergeX disclosed an attempted unauthorized withdrawal incident on October 31 involving 3,688.58 USDC, according to its official statement.
The incident reportedly generated unexpected withdrawal-verification emails for some users. VergeX said its automated risk-control systems reacted within one minute of detecting the suspicious activity.
The company subsequently reported that the entire affected amount had been returned and that other customer funds were not impacted. Services were being restored in stages following the security checks.
Those statements indicate a contained incident with a much smaller reported financial exposure than the Binance and b14g cases. Independent confirmation remains limited, however, because VergeX has not publicly provided a detailed attack mechanism, affected-account count, attacker addresses or transaction records establishing the complete recovery.
The four developments leave cryptocurrency customers facing different outcomes. Binance has committed billions of dollars to replace stolen assets while withdrawals remain scheduled for reopening. b14g is still tracing missing CORE and has yet to explain the exploit. Jupiter Lend has restored USDC withdrawals after a short-lived liquidity shortage, while VergeX says its affected funds have been returned.
For the unresolved cases, the next substantive evidence will come from Binance’s completed reserve proof and withdrawal reopening, alongside b14g’s technical post-mortem and independently verifiable asset-recovery figures.
Johan Shamshad is a financial markets writer at Dave Finances covering cryptocurrencies, trading platforms, brokers, fintech, financial regulation, and developments across global markets. He previously worked at Gulf News, adding newsroom experience to his coverage of fast-moving financial and digital-asset markets.
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