🚨 BINANCE HACK RECOVERY: 90% REPLENISHED
Binance's October 31 Recovery Update #3 reports a major milestone:
📊 90% of affected assets replenished, up from 80%.
🛡️ BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are reportedly 100% backed.
💰 Recovery funded through:
SAFU reserves
Futures Insurance Fund
Binance corporate treasury
The remaining 10% involves less-liquid tokens. Binance says it will absorb the financial impact and replenish SAFU to approximately $1 billion.
What's next?
Complete the remaining 10%.
Publish full Proof of Reserves verification.
Resume withdrawals (target: November 1).
My take: 90% is meaningful progress, but the incident isn't fully resolved. Transparency, independent verification and restored security controls matter just as much as financial recovery.
An exchange is tested not only by how it operates during normal conditions, but by how it responds when things go wrong.
— @DocCompound
#Binance #SAFU🙏 #CryptoSecurity #ProofOfReserves #CryptoNews
Binance's October 31 Recovery Update #3 reports a major milestone:
📊 90% of affected assets replenished, up from 80%.
🛡️ BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are reportedly 100% backed.
💰 Recovery funded through:
SAFU reserves
Futures Insurance Fund
Binance corporate treasury
The remaining 10% involves less-liquid tokens. Binance says it will absorb the financial impact and replenish SAFU to approximately $1 billion.
What's next?
Complete the remaining 10%.
Publish full Proof of Reserves verification.
Resume withdrawals (target: November 1).
My take: 90% is meaningful progress, but the incident isn't fully resolved. Transparency, independent verification and restored security controls matter just as much as financial recovery.
An exchange is tested not only by how it operates during normal conditions, but by how it responds when things go wrong.
— @DocCompound
#Binance #SAFU🙏 #CryptoSecurity #ProofOfReserves #CryptoNews
