Binance News Update | Binance Replenishes 90% of Stolen Assets and Fully Backs BTC, ETH, USDT and Seven Other Tokens, With Withdrawals on Track for Sunday

Binance has replenished 90% of the assets stolen in its recent security incident, up from about 80% a day earlier, the exchange said in its third recovery update on Saturday, October 31. Ten major tokens are now fully backed: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC. Binance said it will keep buying the remaining tokens until every affected asset is 100% covered.“Binance will absorb the financial impact of these stolen funds, not our users,” the exchange said.How the Losses Were CoveredBinance said the replenishment drew on three sources:SAFU fund: a partial deployment of its Secure Asset Fund for Users, expected over the next 24 hours. Users can track the fund’s balance on-chain.Futures insurance fund: a portion of the fund, with the remaining balance kept as a regulatory requirement.Corporate treasury: Binance’s own company funds.The remaining 10% is made up of tokens outside the ten fully backed assets. Because these are less liquid, Binance said they may take longer to buy in the required amounts, and it is working with industry partners to complete the purchases through market and OTC channels.New Proof of Reserves SnapshotBinance took a new Proof of Reserves snapshot at 00:00 UTC on October 31, and it is already available on the exchange’s Proof of Reserves website. The full zero-knowledge proof takes about 40 to 50 hours to generate and is expected by Tuesday, November 3 (UTC). Once it is ready, users holding any of the ten fully backed tokens will be able to independently verify that their assets are backed at least 1:1.Withdrawals on Track for SundayBinance said its next milestone is reopening withdrawals, which remain on track for Sunday, November 1, within its previously stated timeframe. The exchange will confirm details in a further update. It said it will continue to show its commitment through “measurable progress, transparent reporting, and concrete actions.”