I received Binance’s latest email in the early hours of the morning, and I finally feel at ease. After reading it, I can only say one thing: no system is absolutely secure, but I’m glad there’s a responsible major exchange.
As a longtime user who’s been here through it all, I saw three key words in this email: speed, transparency, and taking responsibility.
Here are a few of the most important hard numbers:
1️⃣ Major assets are now 100% fully backed!
The official update says the replenishment ratio for affected assets has risen from 80% to 90%. Most reassuringly, ten major assets—including BTC, ETH, USDT, BNB, and SOL—now have 100% reserve backing! The remaining less than 10% consists of smaller, less liquid tokens, which the team is buying up through OTC (over-the-counter) trading to make up the shortfall.
2️⃣ The platform will cover the losses—users won’t have to pay.
Where will the money come from? Directly from the SAFU fund (expected to be fully transferred within 24 hours), the futures insurance fund, and Binance’s own funds. The platform will fully cover the stolen funds. When something goes wrong, it doesn’t pass the buck—it takes responsibility. That’s the confidence of an industry leader.
3️⃣ A clear timeline for withdrawals to resume.
The withdrawal service everyone is most concerned about is expected to resume as scheduled on November 1 (Sunday). Being able to freely move funds in and out means more than any words of reassurance.
4️⃣ Complete transparency—everyone is welcome to verify the figures.
The October 31 Proof of Reserves (PoR) snapshot has been generated. The ZKP zero-knowledge proof is expected to take around 40–50 hours to generate. By November 3, users holding these ten tokens will be able to verify for themselves whether their assets are fully backed 1:1.
A few honest thoughts: Hacker attacks are a threat to the entire industry, and they’re impossible to guard against completely. But in the face of this crisis, Binance didn’t cover things up or pull the plug. Instead, it froze assets, put up the money to replenish them, and updated its PoR as quickly as possible. From 80% to 90%, and then to 100% coverage for major tokens—this wasn’t achieved with a PowerPoint presentation, but with real money.
Everyone in the community, please stay alert over the next few days: rely only on official channels! Don’t trust anyone impersonating an official account who messages you asking for your password, verification code, or seed phrase!!
Rome wasn’t built in a day, and trust is built through the way crises are handled, again and again. Let’s wait for withdrawals to resume and get through this difficult time together. I stand with Binance ❤️#币安SAFU基金完成7499枚BTC转移 #币安已回填九成受影响资产
As a longtime user who’s been here through it all, I saw three key words in this email: speed, transparency, and taking responsibility.
Here are a few of the most important hard numbers:
1️⃣ Major assets are now 100% fully backed!
The official update says the replenishment ratio for affected assets has risen from 80% to 90%. Most reassuringly, ten major assets—including BTC, ETH, USDT, BNB, and SOL—now have 100% reserve backing! The remaining less than 10% consists of smaller, less liquid tokens, which the team is buying up through OTC (over-the-counter) trading to make up the shortfall.
2️⃣ The platform will cover the losses—users won’t have to pay.
Where will the money come from? Directly from the SAFU fund (expected to be fully transferred within 24 hours), the futures insurance fund, and Binance’s own funds. The platform will fully cover the stolen funds. When something goes wrong, it doesn’t pass the buck—it takes responsibility. That’s the confidence of an industry leader.
3️⃣ A clear timeline for withdrawals to resume.
The withdrawal service everyone is most concerned about is expected to resume as scheduled on November 1 (Sunday). Being able to freely move funds in and out means more than any words of reassurance.
4️⃣ Complete transparency—everyone is welcome to verify the figures.
The October 31 Proof of Reserves (PoR) snapshot has been generated. The ZKP zero-knowledge proof is expected to take around 40–50 hours to generate. By November 3, users holding these ten tokens will be able to verify for themselves whether their assets are fully backed 1:1.
A few honest thoughts: Hacker attacks are a threat to the entire industry, and they’re impossible to guard against completely. But in the face of this crisis, Binance didn’t cover things up or pull the plug. Instead, it froze assets, put up the money to replenish them, and updated its PoR as quickly as possible. From 80% to 90%, and then to 100% coverage for major tokens—this wasn’t achieved with a PowerPoint presentation, but with real money.
Everyone in the community, please stay alert over the next few days: rely only on official channels! Don’t trust anyone impersonating an official account who messages you asking for your password, verification code, or seed phrase!!
Rome wasn’t built in a day, and trust is built through the way crises are handled, again and again. Let’s wait for withdrawals to resume and get through this difficult time together. I stand with Binance ❤️#币安SAFU基金完成7499枚BTC转移 #币安已回填九成受影响资产
