After 98% has been replenished, the remaining 2% is even more worth looking into... 🥳
Replenishment means making up for assets, while recovery means tracking, freezing, and returning them. These are two separate things.
In an announcement on November 4, Binance said it had set aside its own funds worth more than 100% of the total assets required. Replenishment is now about 98% complete, with the remaining tokens continuing to be acquired through market and over-the-counter channels. The challenge, according to the announcement, is that liquidity is lower for the final 2%. This is progress disclosed by the platform, not the conclusion of an external audit.
The real question worth thinking about here is: if the money is there, why can’t they buy everything immediately?
😘Because the dollar amount in an account and the number of tokens you can buy at a reasonable price are separated by a layer of market depth. Seeing a coin priced at one dollar on screen doesn’t mean you can put in several million dollars and have it all filled at one dollar. Quotes are like a menu; the order book is the kitchen. Just because a dish is on the menu doesn’t mean it can be served to a thousand tables at once.
This is also a reminder for people holding small-cap coins: the circulating market cap may look substantial, but the tokens actually available to trade could be scarce. Small trades may not reveal a problem, but when there’s a concentrated effort to buy, exit, or replenish assets, liquidity becomes the real constraint.
But don’t interpret this as “the platform is still buying, so small-cap coins just need to go up.” The announcement doesn’t list the remaining tokens, the shortfall for each token, or the pace of purchases. OTC trades also don’t necessarily sweep the exchange order books directly. There’s a long way to go before the 2% alone is enough evidence to guess which coins might rally.
Another development is that the Proof of Reserves snapshot now covers 44 assets, up from 10, with the snapshot taken at 08:00 on November 4. The announcement estimates that generating the complete zero-knowledge proof will take 50 to 60 hours. Completing the snapshot and making the proof independently verifiable are not the same milestone.
The most valuable updates to watch for next are whether the remaining assets are fully replenished, whether withdrawals on the corresponding networks resume, and whether covered accounts can complete independent verification. Reserve status and withdrawal availability need to be checked separately.
The recovery progress is definitely worth following. What users care about most is being able to actually access their assets when they need them. This event also reminds the market:
When assessing a coin’s risk, don’t just look at how much its price has fallen; consider whether there will actually be enough counterparties when you want to trade. Finally, wishing Binance all the best!! 🤑
#币安安全事件恢复进展：98%被盗资产已回填
Replenishment means making up for assets, while recovery means tracking, freezing, and returning them. These are two separate things.
In an announcement on November 4, Binance said it had set aside its own funds worth more than 100% of the total assets required. Replenishment is now about 98% complete, with the remaining tokens continuing to be acquired through market and over-the-counter channels. The challenge, according to the announcement, is that liquidity is lower for the final 2%. This is progress disclosed by the platform, not the conclusion of an external audit.
The real question worth thinking about here is: if the money is there, why can’t they buy everything immediately?
😘Because the dollar amount in an account and the number of tokens you can buy at a reasonable price are separated by a layer of market depth. Seeing a coin priced at one dollar on screen doesn’t mean you can put in several million dollars and have it all filled at one dollar. Quotes are like a menu; the order book is the kitchen. Just because a dish is on the menu doesn’t mean it can be served to a thousand tables at once.
This is also a reminder for people holding small-cap coins: the circulating market cap may look substantial, but the tokens actually available to trade could be scarce. Small trades may not reveal a problem, but when there’s a concentrated effort to buy, exit, or replenish assets, liquidity becomes the real constraint.
But don’t interpret this as “the platform is still buying, so small-cap coins just need to go up.” The announcement doesn’t list the remaining tokens, the shortfall for each token, or the pace of purchases. OTC trades also don’t necessarily sweep the exchange order books directly. There’s a long way to go before the 2% alone is enough evidence to guess which coins might rally.
Another development is that the Proof of Reserves snapshot now covers 44 assets, up from 10, with the snapshot taken at 08:00 on November 4. The announcement estimates that generating the complete zero-knowledge proof will take 50 to 60 hours. Completing the snapshot and making the proof independently verifiable are not the same milestone.
The most valuable updates to watch for next are whether the remaining assets are fully replenished, whether withdrawals on the corresponding networks resume, and whether covered accounts can complete independent verification. Reserve status and withdrawal availability need to be checked separately.
The recovery progress is definitely worth following. What users care about most is being able to actually access their assets when they need them. This event also reminds the market:
When assessing a coin’s risk, don’t just look at how much its price has fallen; consider whether there will actually be enough counterparties when you want to trade. Finally, wishing Binance all the best!! 🤑
#币安安全事件恢复进展：98%被盗资产已回填