Fellow Binancians,
Binance has released Recovery Update #3 following the recent security incident, showing rapid progress toward full asset restoration and platform normalization.
Here are the key takeaways every user needs to know:
1. 90% Asset Replenishment Complete 📈
Coverage Up to 90%: The total replenished amount has jumped from 80% to 90%.
Top Assets 100% Backed: Major assets—including
$BTC ,
$ETH , $USDT , $BNB, $SOL, $USDC, $XRP, $USD1, $RLUSD, and $ZEC are now fully backed at a minimum 1:1 ratio.
Remaining 10%: The remaining unbacked portion consists of less liquid, non-top-10 tokens. Binance is actively sourcing these via market and OTC channels alongside industry partners.
2. How the Recovery is Financed 💳
Binance is absorbing 100% of the financial impact. Funds for replenishment are sourced from:
SAFU Fund: Partial deployment of the Secure Asset Fund for Users (deploying over 24 hours; SAFU will subsequently be restored to ~$1B).
Futures Insurance Fund: Utilizing excess balances while maintaining required regulatory safety margins.
Binance Corporate Treasury: Direct company backing to cover user losses fully.
3. Proof of Reserves (PoR) & Resuming Withdrawals ⏳
Fresh PoR Snapshot: A new snapshot was taken on 2026-10-31 00:00 UTC.
Zero-Knowledge Proofs: Computing full ZK-proofs takes 40–50 hours. By Tuesday, Nov 3, 2026, holders of the top 10 covered tokens will be able to independently verify 1:1 asset backing.
Withdrawals: Platform withdrawals remain on track to resume on Sunday, Nov 1, 2026.
⚠️ Security Alert: Stay Vigilant Against Phishing
Official Channels Only: Always verify announcements via official Binance links.
No Secret Requests: Binance staff will never ask for your password, OTP codes, seed phrases, or private keys.
Anti-Phishing Code: Ensure your custom Anti-Phishing Code is enabled in your account settings.
What are your thoughts on Binance's transparent recovery timeline? Drop your thoughts in the comments below! 👇
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