BINANCE RECOVERY UPDATE #7: 98% REPLENISHED — BUT ONE IMPORTANT STEP REMAINS
Binance has released another major update following its October 29 security incident.
Here’s what changed:
98% replenished: Binance says it has replaced approximately 98% of the affected assets, up from the previously reported 95%.
44 tokens covered: Its November 4 Proof of Reserves snapshot now includes 44 cryptocurrencies, compared with 10 previously.
Verification still pending: Binance expects the new zero-knowledge proof to take approximately 50–60 hours to generate.
That last distinction matters.
A reserve snapshot is not the same as a completed, independently verifiable cryptographic proof.
Binance says users will be able to verify their balances once the new proof is generated.
The remaining 2% of affected assets is taking longer to replenish because those tokens have lower market liquidity.
For Muslim investors, transparency, responsible custody and protection of entrusted wealth are important considerations. Recovery progress is encouraging, but it does not eliminate operational risks or independently establish Shariah compliance.
What matters more to you: full asset replenishment or independently verifiable reserves?
#Binance #ProofOfReserves #CryptoSecurity #HalalCryptoGuide
Binance has released another major update following its October 29 security incident.
Here’s what changed:
98% replenished: Binance says it has replaced approximately 98% of the affected assets, up from the previously reported 95%.
44 tokens covered: Its November 4 Proof of Reserves snapshot now includes 44 cryptocurrencies, compared with 10 previously.
Verification still pending: Binance expects the new zero-knowledge proof to take approximately 50–60 hours to generate.
That last distinction matters.
A reserve snapshot is not the same as a completed, independently verifiable cryptographic proof.
Binance says users will be able to verify their balances once the new proof is generated.
The remaining 2% of affected assets is taking longer to replenish because those tokens have lower market liquidity.
For Muslim investors, transparency, responsible custody and protection of entrusted wealth are important considerations. Recovery progress is encouraging, but it does not eliminate operational risks or independently establish Shariah compliance.
What matters more to you: full asset replenishment or independently verifiable reserves?
#Binance #ProofOfReserves #CryptoSecurity #HalalCryptoGuide
