Bitcoin Stabilizes - Binance Reimburses Over 90% of Stolen Funds

Bitcoin's price stabilized on Monday after cryptocurrency exchange giant Binance partially restored withdrawals on several major blockchain networks following last week's record-breaking cyberattack.

Market sentiment is also being influenced by the upcoming US midterm elections. Investors are anticipating possible regulatory changes should Republicans lose their majority in Congress.

According to Investing.com, as of 10:12 AM Tbilisi time, Bitcoin was trading at $78,050.9, with no significant price change recorded. Meanwhile, the cryptocurrency's value has fallen by roughly 6% over the past month. Bitcoin remains close to its one-month low after breaking below the lower bound of the trading range established since mid-September. Other major cryptocurrencies also posted modest gains.

Binance covers $6 billion of the $6.3 billion stolen

According to Binance, of the $6.3 billion stolen in last week's cyberattack, the company has compensated approximately $6 billion using its own funds, replacing the lost tokens. The exchange also stated it managed to freeze $3 billion of the stolen assets and will fully cover users' losses.

The attack has been linked to TraderTraitor, a hacking group backed by North Korea. The incident has been described as the largest theft in cryptocurrency history.

The incident triggered a wave of selling in the crypto market and heightened concerns about security in the sector. On Friday, net outflows from US spot Bitcoin ETFs reached $643.3 million — the highest figure in the past four months. For the week ending October 30, net outflows from these funds totaled $202.6 million.

Losses were also recorded in spot Ethereum ETFs: on Friday they saw net outflows of $155.9 million, while for the entire week the figure reached $431.5 million.

BTCPay urges users to update their servers

Additional concern in the crypto market was sparked by a security issue related to BTCPay Server, a Bitcoin payment tool.

According to the company, a potential attack vector has been identified affecting versions of the platform from July 2026 or earlier. The announcement followed reports from several users of unauthorized withdrawals from hot wallets.

BTCPay Server urged users to update to the latest version of the system, noting that no withdrawal incidents have been recorded from updated wallets.

Following the large-scale attack on Binance, the BTCPay incident further highlighted the risks associated with crypto infrastructure security.