A $6.3 billion hole, and Binance says it’s filling it: 80% is already in place
After $6.3 billion was stolen, Binance issued its second announcement early this morning. Here are the key figures:
🔹 Official figures
- More than $6.34 billion in company funds prepared (SAFU + its own funds)
- Tokens worth more than $5 billion are already in place (USDC, USDT, BTC, ETH, BNB); according to Binance, about 80% of the shortfall has been replenished
- The remaining roughly 20% (around $1.2 billion based on $6.3 billion) is being purchased through market and over-the-counter channels
- About $3 billion has been frozen on-chain
- Withdrawals are suspended. He Yi’s latest estimate is that they’ll resume within 42 hours (the original announcement said around 34 hours; defer to any subsequent official updates). Resumption will be phased by token
- The first proof-of-reserves snapshot will be taken within 12 hours, with results to be announced before November 2 (Monday)
Two easily confused figures, clarified: the 80% refers to Binance’s progress in using its own funds to fill the hole; the $3 billion frozen is a separate measure targeting the hacker’s funds. The former protects your balance; the latter determines whether the hacker can spend the money.
A few caveats: funds being in place doesn’t mean withdrawals can resume immediately. Withdrawals will return in phases, token by token, and the estimates of 34–42 hours are inconsistent. Binance says it has found no evidence that private keys were leaked; the investigation is ongoing, and a technical report is expected within 48 hours. The remaining 20% still needs to be purchased, and replenishment could be affected by severe market volatility.
The guidance remains the same: wait for the official phased resumption of withdrawals, and don’t make decisions in a panic. After this incident, proof-of-reserves snapshots should become standard practice for every exchange.
Are your assets currently on an exchange, or have you moved them to a self-custody wallet?
For informational purposes only; not investment advice. DYOR.
#币安披露黑客事件进展63亿美元损失已弥补八成 #加密安全 $BNB $BTC
After $6.3 billion was stolen, Binance issued its second announcement early this morning. Here are the key figures:
🔹 Official figures
- More than $6.34 billion in company funds prepared (SAFU + its own funds)
- Tokens worth more than $5 billion are already in place (USDC, USDT, BTC, ETH, BNB); according to Binance, about 80% of the shortfall has been replenished
- The remaining roughly 20% (around $1.2 billion based on $6.3 billion) is being purchased through market and over-the-counter channels
- About $3 billion has been frozen on-chain
- Withdrawals are suspended. He Yi’s latest estimate is that they’ll resume within 42 hours (the original announcement said around 34 hours; defer to any subsequent official updates). Resumption will be phased by token
- The first proof-of-reserves snapshot will be taken within 12 hours, with results to be announced before November 2 (Monday)
Two easily confused figures, clarified: the 80% refers to Binance’s progress in using its own funds to fill the hole; the $3 billion frozen is a separate measure targeting the hacker’s funds. The former protects your balance; the latter determines whether the hacker can spend the money.
A few caveats: funds being in place doesn’t mean withdrawals can resume immediately. Withdrawals will return in phases, token by token, and the estimates of 34–42 hours are inconsistent. Binance says it has found no evidence that private keys were leaked; the investigation is ongoing, and a technical report is expected within 48 hours. The remaining 20% still needs to be purchased, and replenishment could be affected by severe market volatility.
The guidance remains the same: wait for the official phased resumption of withdrawals, and don’t make decisions in a panic. After this incident, proof-of-reserves snapshots should become standard practice for every exchange.
Are your assets currently on an exchange, or have you moved them to a self-custody wallet?
For informational purposes only; not investment advice. DYOR.
#币安披露黑客事件进展63亿美元损失已弥补八成 #加密安全 $BNB $BTC
