🚨 Binance Hack Update: the recovery effort is now moving on-chain.
After the October 29 security breach affected roughly $6.3B in assets, Binance says it has now replenished about 90% of the affected assets.
Here are the key numbers:
• $6.34B+ has been allocated to cover the impact
• Around $3B of stolen assets has been frozen on-chain
• BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now reported as 100% backed
• Binance completed a verifiable 7,499 BTC SAFU transfer, worth roughly $581M at the time
• The remaining ~10% mainly involves less-liquid tokens that Binance says it is sourcing through market and OTC purchases
Importantly, Binance says users will not absorb the financial loss. The recovery is being funded through SAFU, the Futures Insurance Fund and Binance’s corporate treasury.
The investigation is still ongoing. Binance says there is currently no evidence that wallet private keys were leaked, while the attack appears to have involved compromised infrastructure and multiple points of intrusion.
A new Proof of Reserves snapshot has also been published, with the full zero-knowledge proof expected next.
This is one of those moments where the real test isn’t just how an exchange gets hacked — it’s how transparently and quickly it responds afterward.
Does the 90% replenishment + on-chain SAFU deployment restore your confidence?
$BNB
$BTC
$ETH
#BinanceSAFUFundTransferCompleted7499BTC #safu #bitcoin #BinanceSquareTalks
After the October 29 security breach affected roughly $6.3B in assets, Binance says it has now replenished about 90% of the affected assets.
Here are the key numbers:
• $6.34B+ has been allocated to cover the impact
• Around $3B of stolen assets has been frozen on-chain
• BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now reported as 100% backed
• Binance completed a verifiable 7,499 BTC SAFU transfer, worth roughly $581M at the time
• The remaining ~10% mainly involves less-liquid tokens that Binance says it is sourcing through market and OTC purchases
Importantly, Binance says users will not absorb the financial loss. The recovery is being funded through SAFU, the Futures Insurance Fund and Binance’s corporate treasury.
The investigation is still ongoing. Binance says there is currently no evidence that wallet private keys were leaked, while the attack appears to have involved compromised infrastructure and multiple points of intrusion.
A new Proof of Reserves snapshot has also been published, with the full zero-knowledge proof expected next.
This is one of those moments where the real test isn’t just how an exchange gets hacked — it’s how transparently and quickly it responds afterward.
Does the 90% replenishment + on-chain SAFU deployment restore your confidence?
$BNB
$BTC
$ETH
#BinanceSAFUFundTransferCompleted7499BTC #safu #bitcoin #BinanceSquareTalks
