Asset Replenishment: Major Tokens Now Fully Reserved

According to an official announcement released by Binance on October 31, significant progress has been made in replenishing assets affected by the recent security incident. Approximately 90% of the impacted assets have now been restored, marking an improvement from the previously reported figure of around 80%.

The exchange had earmarked over $6.34 billion of its own capital to cover losses arising from the incident. The announcement specifically noted that ten major tokens, including BTC, ETH, USDT, and BNB, have already achieved 100% reserve coverage.

Funding Sources and Next Steps

The replenishment funds were sourced from multiple channels:

  • A portion of the Secure Asset Fund for Users (SAFU)
  • A portion of the Futures Insurance Fund
  • The company's own capital

As required by regulations, the remaining balance of the Futures Insurance Fund will be maintained. The approximately 10% of assets not yet replenished primarily consist of tokens outside the aforementioned top ten. Binance stated that acquiring the necessary volume for these less liquid assets may take more time via market and OTC channels, but the process is ongoing.

Enhanced Transparency: New Proof of Reserves Snapshot Finalized

To bolster user trust and platform transparency, Binance completed a new Proof of Reserves snapshot at 08:00 Beijing Time on October 31. The relevant data has been updated on its official website.

The exchange estimates that generating the zero-knowledge proof will require 40 to 50 hours. The complete Proof of Reserves is expected to be available by November 3 (UTC). At that time, holders of the ten major tokens will be able to independently verify that their assets are backed by at least a 1:1 reserve ratio.

User Protection and Service Restoration

Binance reiterated in the announcement that all financial losses from the incident will be fully borne by the company, with no cost to users. Meanwhile, work to restore withdrawal services is proceeding as planned, with an expected resumption date of November 1. Finalized timing and arrangements will be announced once confirmed.