The shortfall has been covered, but withdrawals are still opening in stages.
Binance announced at 0:54 this morning (Beijing time) that assets affected by the security incident had been fully covered. The company invested more than $6.34 billion, sourced from part of SAFU, the portion of the futures insurance fund exceeding risk-control requirements, and the company treasury. It bought back the affected tokens on the market and through OTC transactions, and pledged to replenish SAFU to around $1 billion.
The new Proof of Reserves snapshot was taken at 8:00 on November 12 (Beijing time), covering 198 tokens. The announcement also said that generating the zero-knowledge proof would take another 40 to 50 hours. Until then, holders of affected tokens still can't independently verify that their assets are backed at least 1:1. Withdrawals will continue to reopen in stages; details will be announced later.
The books have been balanced, but that doesn't mean all the gates are open. If you want to withdraw, first check whether your withdrawal channel is available.
$BNB $BTC $ETH
Binance announced at 0:54 this morning (Beijing time) that assets affected by the security incident had been fully covered. The company invested more than $6.34 billion, sourced from part of SAFU, the portion of the futures insurance fund exceeding risk-control requirements, and the company treasury. It bought back the affected tokens on the market and through OTC transactions, and pledged to replenish SAFU to around $1 billion.
The new Proof of Reserves snapshot was taken at 8:00 on November 12 (Beijing time), covering 198 tokens. The announcement also said that generating the zero-knowledge proof would take another 40 to 50 hours. Until then, holders of affected tokens still can't independently verify that their assets are backed at least 1:1. Withdrawals will continue to reopen in stages; details will be announced later.
The books have been balanced, but that doesn't mean all the gates are open. If you want to withdraw, first check whether your withdrawal channel is available.
$BNB $BTC $ETH