Binance says it has now refilled about 90% of the assets drained in its record hack.
KEY TAKEAWAYS
- In its Security Incident Update No. 3, Binance said about 90% of the stolen assets have been replenished and that it has provided a new Proof of Reserves snapshot
- Binance said coverage of the affected assets rose from about 80% to about 90%, and that BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1…
- Binance said the replenishment is funded by part of its SAFU fund, part of its futures insurance fund and company capital, and that the remaining tokens…
OPENING
In its Security Incident Update No. 3, Binance said about 90% of the stolen assets have been replenished and that it has provided a new Proof of Reserves snapshot.
KEY DETAILS
- In its Security Incident Update No. 3, Binance said about 90% of the stolen assets have been replenished and that it has provided a new Proof of Reserves snapshot.
- Binance said coverage of the affected assets rose from about 80% to about 90%, and that BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now 100% covered.
- Binance said the replenishment is funded by part of its SAFU fund, part of its futures insurance fund and company capital, and that the remaining tokens, which are less liquid, are still being bought.
- Binance said the Proof of Reserves snapshot was taken at 08:00 UTC+8 on October 31, that the full zero-knowledge proof is expected on November 3, and that withdrawals are still planned to resume on November 1.
WHY IT MATTERS
Withdrawals are paused; Binance still plans to restart them November 1. (Analysis, not a confirmed fact.)
IMPORTANT CONTEXT
- Binance has put the total impact of the October 29 hot-wallet breach at about $6.3 billion and said user losses will be covered by SAFU and company funds.
- In an earlier update Binance said about $3 billion of the affected assets had been frozen on-chain.
- The withdrawal restart remains subject to security checks, and Binance said details will be announced separately.
- This is news reporting, not investment advice.
- This article is informational and is not financial advice. Digital assets are volatile.
SOURCE
- Primary / main source: https://x.com/binance/status/2116538196259684457
- Supporting: https://www.techflowpost.com/en-US/newsletter/142251
- Supporting: https://www.panewslab.com/zh/articles/01a1925b-6729-76d7-8615-4a1aff721da2
💬 Does a fresh Proof of Reserves snapshot restore your confidence after a hack this size? Share your view below.
#Binance #ProofOfReserves #CryptoSecurity