🚨 BINANCE HAS REPLENISHED 90% OF STOLEN ASSETS JUST 10% LEFT!
Another major update in the $6.3B security incident.
Binance says it has now replenished 90% of the affected assets, up from 80% in its previous update.
✅ BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now 100% backed.
⏳ The remaining 10% involves less-liquid tokens, which Binance is still acquiring through market and OTC purchases.
The company says users will not absorb the losses. Replenishment is being funded through corporate reserves, SAFU and excess Futures Insurance Fund reserves.
📊 A new Proof of Reserves snapshot is live, with full verification proofs expected by November 3. Withdrawals are still targeted to reopen on November 1.
My take: 90% replenishment is meaningful progress, but transparency and independent verification will be crucial for restoring confidence.
Has Binance handled this recovery well so far, or is trust still the bigger issue?
$COW #BinanceSAFUFundTransferCompleted7499BTC $AIN #CryptoSecurity $LSK #YiHe:ProofOfReserves:10TokensAt100%Backing #BackedNotBroken:RichardTengSaysUsersBearNoLoss #CZSaysCompensationIsinPlaceUsersAreProtected
Another major update in the $6.3B security incident.
Binance says it has now replenished 90% of the affected assets, up from 80% in its previous update.
✅ BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now 100% backed.
⏳ The remaining 10% involves less-liquid tokens, which Binance is still acquiring through market and OTC purchases.
The company says users will not absorb the losses. Replenishment is being funded through corporate reserves, SAFU and excess Futures Insurance Fund reserves.
📊 A new Proof of Reserves snapshot is live, with full verification proofs expected by November 3. Withdrawals are still targeted to reopen on November 1.
My take: 90% replenishment is meaningful progress, but transparency and independent verification will be crucial for restoring confidence.
Has Binance handled this recovery well so far, or is trust still the bigger issue?
$COW #BinanceSAFUFundTransferCompleted7499BTC $AIN #CryptoSecurity $LSK #YiHe:ProofOfReserves:10TokensAt100%Backing #BackedNotBroken:RichardTengSaysUsersBearNoLoss #CZSaysCompensationIsinPlaceUsersAreProtected