BINANCE HACK UPDATE: APPROXIMATELY 90% OF AFFECTED ASSETS REIMBURSED
As of October 31, Binance had reimbursed approximately 90% of the affected assets, up from the previously announced 80%.
BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are now 100% backed. The remaining approximately 10% consists of tokens outside the top 10 with low liquidity, so they may take more time to reimburse.
The funds come from a combination of the SAFU fund, the contract insurance fund, and Binance’s own capital.
Binance also took a snapshot of its reserves at 07:00 on October 31 (Vietnam time). Full zero-knowledge proof is expected to be generated on November 3 (UTC).
Analysis: Progress from 80% to 90%, along with the major tokens now being 100% backed, is a positive sign. However, the remaining 10% is the most difficult part due to low liquidity, so users holding tokens outside the top 10 may need to be patient. The zero-knowledge proof on November 3 should be monitored to verify the reserves, rather than concluding with certainty that all assets have been fully recovered.
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$BNB
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As of October 31, Binance had reimbursed approximately 90% of the affected assets, up from the previously announced 80%.
BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are now 100% backed. The remaining approximately 10% consists of tokens outside the top 10 with low liquidity, so they may take more time to reimburse.
The funds come from a combination of the SAFU fund, the contract insurance fund, and Binance’s own capital.
Binance also took a snapshot of its reserves at 07:00 on October 31 (Vietnam time). Full zero-knowledge proof is expected to be generated on November 3 (UTC).
Analysis: Progress from 80% to 90%, along with the major tokens now being 100% backed, is a positive sign. However, the remaining 10% is the most difficult part due to low liquidity, so users holding tokens outside the top 10 may need to be patient. The zero-knowledge proof on November 3 should be monitored to verify the reserves, rather than concluding with certainty that all assets have been fully recovered.
👇 TRADE HOT COINS HERE 👇
$BNB
$SOPH
$LSK
