CryptoSlate
Binance said less-liquid tokens are slowing replacement of stolen assets, with approximately 5% of the impacted amount still outstanding after the exchange reported 95% replenishment on Nov. 1 and repeated that figure on Nov. 2. Withdrawals were scheduled to reopen progressively from Nov. 3 as individual asset-network pairs cleared security and readiness checks.
Why it matters
Replenishing funds and restoring withdrawals are separate steps. Binance said the remaining tokens were harder to source in the required quantities, with purchases continuing through market and over-the-counter channels and with industry partners. The exchange said corporate treasury, a planned partial deployment of its Secure Asset Fund for Users and some futures insurance resources were funding the recovery.
The 95% figure refers to the impacted amount, not the share of tokens or withdrawal routes restored. Binance did not specify the valuation basis, so the outstanding 5% cannot be translated into a dollar shortfall from these disclosures.
Market impact
Binance said it was prioritizing tokens based on demand over the preceding week and would restore each network-asset pair after checks. It warned that rollout traffic could cause temporary delays or longer processing times. Users need to check availability for their chosen asset and network; a token's reserve backing does not by itself confirm that every withdrawal route is open.
Binance said its zero-knowledge proof covered an Oct. 31 reserve snapshot for BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC, with balances backed at least one-for-one at that snapshot. A broader snapshot was planned for Nov. 4, with proof generation estimated to take approximately 40 to 50 hours. Binance said it would bear the financial impact of the stolen funds.
Frequently asked questions
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What does Binance's 95% replenishment figure measure?
It refers to the impacted amount, not the share of tokens or withdrawal routes restored. Binance did not specify the valuation basis for the figure.
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Why is the remaining portion taking longer to replace?
Binance said the remaining tokens are less liquid and harder to source in the required quantities. It said purchases were continuing through market and over-the-counter channels and with industry partners.
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Why can replenishment be nearly complete while withdrawals remain unavailable?
Replacing stolen assets and restoring withdrawal routes are separate tasks. Binance said each asset-network pair must clear security and readiness checks before availability expands.
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Which assets did Binance include in its Oct. 31 reserve proof?
Binance named BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC. It said balances were backed at least one-for-one at that snapshot.
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What did Binance plan after the Oct. 31 reserve snapshot?
Binance planned a broader reserve snapshot for Nov. 4, followed by proof generation estimated to take approximately 40 to 50 hours.
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