This afternoon, the first phase of withdrawals began to resume: the fourth recovery update published today on Binance’s official Square news page says that withdrawals in the first phase began reopening in stages between 2 p.m. and 5 p.m. Beijing time today (06:00–09:00 UTC), initially covering 15 networks.
The facts——
The initial networks and assets, as listed in Binance’s original post: BTC on the BTC network; ETH, USDT, and USDC on the ETH network; BNB, USDT, and USDC on the BSC network; TRX and USDT on the TRX network; SOL, USDT, and USDC on the SOL network; the native tokens on their respective networks for XRP, ZEC, and DOGE; USDT and GRAM on the TON network; POL, USDT, and USDC on the Polygon network; AVAX, USDT, and USDC on Avalanche C-Chain; ETH, USDT, USDC, and ARB on the Arbitrum network; ETH and USDC on the Base network; ETH, USDT, and USDC on the Optimism network; and SUI on the SUI network. Binance says the resumption is being prioritized according to user demand over the past week, and each network-and-asset combination will be enabled only after completing security and stability checks—not all at once. High traffic is expected initially, so withdrawals may be delayed or temporarily fail; trying again later is normal during a phased resumption. Deposits are unaffected and continue to operate as usual.
The reserve figures have also been updated: coverage has risen from about 90% to about 95%. The remaining roughly 5% consists of less liquid tokens outside the ten major tokens, which Binance says it is continuing to purchase through market and over-the-counter channels. The ten major tokens—BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC—remain fully covered at 100%. Binance reiterated that it will bear the losses without passing them on to users, and will publish a post-mortem report once the investigation is complete.
The affected coin——
$BNB is now around $715, up 1.5% over the past 24 hours. Its 24-hour range is $702–$716, with spot trading volume of about $63 million. Over a longer, seven-day period, the range is $680–$762, down 3.8%; the current price is still in the lower-middle part of that range. Put simply, I’d treat the move from $704 this morning to around $715 now as a sign to watch for price stabilization, not as a signal that the incident is over.
Risks, listed separately——
First, 95% is not 100%. The remaining 5% is still being purchased, so don’t mistake “the ten fully covered” for “everything is complete” until coverage is full.
Second, the first phase is only the beginning. Other networks and assets will resume in stages after their respective security checks are completed. Binance has not given a timeline for full resumption this time; check the withdrawal page or network status page for the specific coin and network.
Third, a snapshot being posted on the website does not mean it can be independently verified: the complete zero-knowledge proof is expected on November 3. Until then, the 1:1 claim remains Binance’s own statement.
Fourth, this update has no new information about the resumption of Alpha trading. Binance is also warning users to beware of scams: don’t click unofficial links, don’t trust unofficial messages, and don’t authorize wallets or disclose account information on any third-party site.
Once the first phase is live, will you first check the withdrawal status of the network you usually use, or wait for the verifiable proof due on November 3?
#币安 #MarketWatch
The facts——
The initial networks and assets, as listed in Binance’s original post: BTC on the BTC network; ETH, USDT, and USDC on the ETH network; BNB, USDT, and USDC on the BSC network; TRX and USDT on the TRX network; SOL, USDT, and USDC on the SOL network; the native tokens on their respective networks for XRP, ZEC, and DOGE; USDT and GRAM on the TON network; POL, USDT, and USDC on the Polygon network; AVAX, USDT, and USDC on Avalanche C-Chain; ETH, USDT, USDC, and ARB on the Arbitrum network; ETH and USDC on the Base network; ETH, USDT, and USDC on the Optimism network; and SUI on the SUI network. Binance says the resumption is being prioritized according to user demand over the past week, and each network-and-asset combination will be enabled only after completing security and stability checks—not all at once. High traffic is expected initially, so withdrawals may be delayed or temporarily fail; trying again later is normal during a phased resumption. Deposits are unaffected and continue to operate as usual.
The reserve figures have also been updated: coverage has risen from about 90% to about 95%. The remaining roughly 5% consists of less liquid tokens outside the ten major tokens, which Binance says it is continuing to purchase through market and over-the-counter channels. The ten major tokens—BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC—remain fully covered at 100%. Binance reiterated that it will bear the losses without passing them on to users, and will publish a post-mortem report once the investigation is complete.
The affected coin——
$BNB is now around $715, up 1.5% over the past 24 hours. Its 24-hour range is $702–$716, with spot trading volume of about $63 million. Over a longer, seven-day period, the range is $680–$762, down 3.8%; the current price is still in the lower-middle part of that range. Put simply, I’d treat the move from $704 this morning to around $715 now as a sign to watch for price stabilization, not as a signal that the incident is over.
Risks, listed separately——
First, 95% is not 100%. The remaining 5% is still being purchased, so don’t mistake “the ten fully covered” for “everything is complete” until coverage is full.
Second, the first phase is only the beginning. Other networks and assets will resume in stages after their respective security checks are completed. Binance has not given a timeline for full resumption this time; check the withdrawal page or network status page for the specific coin and network.
Third, a snapshot being posted on the website does not mean it can be independently verified: the complete zero-knowledge proof is expected on November 3. Until then, the 1:1 claim remains Binance’s own statement.
Fourth, this update has no new information about the resumption of Alpha trading. Binance is also warning users to beware of scams: don’t click unofficial links, don’t trust unofficial messages, and don’t authorize wallets or disclose account information on any third-party site.
Once the first phase is live, will you first check the withdrawal status of the network you usually use, or wait for the verifiable proof due on November 3?
#币安 #MarketWatch
