98% of assets have been replenished. The remaining 2% is the real challenge.
On November 4, Binance published an update on the recovery from the security incident. The announcement confirmed that approximately 98% of the affected user assets had been replenished. The platform had set aside its own funds worth more than 100% of the total to cover the shortfall.
The incident involved approximately $6.3 billion in assets across multiple blockchains, including 1.77 billion USDT, 18,270 BTC, and 460,000 ETH. According to Arkham records, issuers have frozen approximately $2.8 billion of those assets.
Why has the remaining 2% taken so long?
According to the official explanation, most of the unreplenished assets are small-cap tokens with low liquidity. Binance needs to continue buying them through market channels and over-the-counter (OTC) trades. This isn’t a matter of insufficient funds: reserves make it possible to quickly replace large-cap assets, but there simply aren’t as many sell orders for smaller tokens. Sweeping the market would send prices soaring, while finding OTC counterparties takes time.
There’s another development worth noting. On the same day, Binance completed a new Proof of Reserves (PoR) snapshot, increasing the number of covered tokens from 10 to 44. Once the ZK proofs are generated, users will be able to verify for themselves whether their balances are backed at least 1:1. The 98% figure in the announcement comes from the platform, but PoR provides on-chain data that anyone can check.
As for the cause of the incident, an initial investigation points to an engineer’s laptop being compromised. The attacker used it to submit unauthorized withdrawal transactions. So far, there’s no indication that private keys were leaked. The FBI has attributed the attack to a hacking group linked to North Korea; a detailed technical report is still pending.
If you hold any of the affected assets, we recommend checking your balance on the PoR page yourself—it’s more reassuring than relying on the percentage in an announcement.
You can also follow me for more news and updates.
$BNB #币安安全事件恢复进展：98%被盗资产已回填
This is an objective summary of publicly available information and mechanisms only, and does not constitute investment advice.$BTC $TRX
On November 4, Binance published an update on the recovery from the security incident. The announcement confirmed that approximately 98% of the affected user assets had been replenished. The platform had set aside its own funds worth more than 100% of the total to cover the shortfall.
The incident involved approximately $6.3 billion in assets across multiple blockchains, including 1.77 billion USDT, 18,270 BTC, and 460,000 ETH. According to Arkham records, issuers have frozen approximately $2.8 billion of those assets.
Why has the remaining 2% taken so long?
According to the official explanation, most of the unreplenished assets are small-cap tokens with low liquidity. Binance needs to continue buying them through market channels and over-the-counter (OTC) trades. This isn’t a matter of insufficient funds: reserves make it possible to quickly replace large-cap assets, but there simply aren’t as many sell orders for smaller tokens. Sweeping the market would send prices soaring, while finding OTC counterparties takes time.
There’s another development worth noting. On the same day, Binance completed a new Proof of Reserves (PoR) snapshot, increasing the number of covered tokens from 10 to 44. Once the ZK proofs are generated, users will be able to verify for themselves whether their balances are backed at least 1:1. The 98% figure in the announcement comes from the platform, but PoR provides on-chain data that anyone can check.
As for the cause of the incident, an initial investigation points to an engineer’s laptop being compromised. The attacker used it to submit unauthorized withdrawal transactions. So far, there’s no indication that private keys were leaked. The FBI has attributed the attack to a hacking group linked to North Korea; a detailed technical report is still pending.
If you hold any of the affected assets, we recommend checking your balance on the PoR page yourself—it’s more reassuring than relying on the percentage in an announcement.
You can also follow me for more news and updates.
$BNB #币安安全事件恢复进展：98%被盗资产已回填
This is an objective summary of publicly available information and mechanisms only, and does not constitute investment advice.$BTC $TRX