Binance Provides Update on Asset Recovery and Withdrawal Timeline
Binance has released a new announcement detailing significant progress in resolving a recent security incident. The exchange reports that approximately 95% of the user assets impacted by the event have now been replenished, securing the holdings for the vast majority of its users.
Proof of Reserves Verification Live for Users
The zero-knowledge proof for the Proof of Reserves snapshot taken on October 31, 2026, has been fully generated. Users holding major assets like BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC can now utilize Binance's verification tool to confirm that their balances are backed by at least a 1:1 reserve ratio. This step enhances transparency and allows for independent user verification.
Roadmap for Remaining 5% and Next Steps
The remaining 5% of assets yet to be recovered consist largely of tokens outside the top ten list, which have relatively lower liquidity. Binance stated that sourcing sufficient quantities of these tokens will require additional time due to market depth. The platform has outlined its next steps: a new snapshot covering a wider range of tokens is scheduled for November 4. Generating the complete zero-knowledge proof for this snapshot is estimated to take between 40 to 50 hours.
In parallel, Binance plans to begin phasing in the resumption of withdrawals for more blockchain networks and associated assets starting the following day. This staged approach aims to ensure an orderly process for users to access their funds.
Reiteration of User Protection Pledge
Binance reiterated its fundamental guarantee that all financial losses stemming from the incident will be borne entirely by the platform, with users absorbing zero loss. This commitment is intended to reassure users and reinforce the exchange's stance on being accountable for asset security.
The update demonstrates Binance's efforts to rebuild trust through clear communication of recovery metrics, verifiable reserve proof, and a structured plan to restore full platform functionality.