Although written in a prophetic sense, these verses probably also describe what happened when Hêlêl attacked God's throne in pre-history. God and His angels, led by Michael, cast the former Hêlêl—no longer a “shining one,” but now called Satan the Devil, the Deceiver, the Adversary, the Opposition—along with his angels, back to the earth, evidently causing great destruction all over the galaxy. And here they have remained.
Jude 6 records, “And the angels who did not keep their proper domain [the earth], but left their own abode, He has reserved in everlasting chains under darkness for the judgment of the great day.” God has bound them to the earth while they await their ultimate judgment. Though no place was found in heaven for them anymore, the book of Job says that Satan can present himself before God's throne on occasion. Earth, however, is their habitation. While only as free as God allows them to be, they can still deceive and prey on mankind.
The Bible and human history fill in what has happened since. It is evident that from creation, mankind has been living side by side with millions of demonic opponents led by the chief adversary, Satan the Devil. Apparently, this was part of God's plan for His children. He wants us to choose His way, to overcome and grow despite being surrounded by evil.
Richard T. Ritenbaugh
The Binding of Satan