Binance: Stolen asset recovery rate rises to 90%, plans to resume withdrawals on Nov. 1
TechFlow reports that on October 31, according to an official announcement from Binance, its coverage ratio for affected assets following the security incident has risen from approximately 80% to 90%. BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC have achieved 100% coverage.Binance stated that it will continue to purchase the remaining assets through market and over-the-counter transactions; the supplementary funds include portions of the User Security Reserve Fund (SAFU), futures insurance fund, and company capital. The company has committed to replenishing SAFU to approximately $1 billion.Binance has released a Proof of Reserves snapshot taken at 08:00 Beijing Time on October 31, with the complete zero-knowledge proof expected to be generated on November 3. It stated that it still plans to resume withdrawals on November 1, with specific details to be announced separately once confirmed.
TechFlow reports that on October 31, according to an official announcement from Binance, its coverage ratio for affected assets following the security incident has risen from approximately 80% to 90%. BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC have achieved 100% coverage.
Binance stated that it will continue to purchase the remaining assets through market and over-the-counter transactions; the supplementary funds include portions of the User Security Reserve Fund (SAFU), futures insurance fund, and company capital. The company has committed to replenishing SAFU to approximately $1 billion.
Binance has released a Proof of Reserves snapshot taken at 08:00 Beijing Time on October 31, with the complete zero-knowledge proof expected to be generated on November 3. It stated that it still plans to resume withdrawals on November 1, with specific details to be announced separately once confirmed.
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