TheBlock
Binance says it has replenished about 95% of assets affected by last week’s hack using its own funds, with the remaining 5% held in less-liquid tokens it is still working to acquire. The exchange completed a new zero-knowledge proof-of-reserves snapshot covering BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC, allowing users to verify that balances are backed 1:1. Binance expects to begin progressively restoring withdrawals for additional networks and assets on Tuesday, and plans another reserves snapshot on Wednesday.
Why it matters
The recovery update pairs an asset-replenishment claim with a way for customers to check reserves independently. Binance co-CEO Richard Teng said the exchange would continue communicating its progress. Co-founder Yi He said generating the full zero-knowledge proof after a snapshot currently takes an estimated 40 to 50 hours, depending on the number of tokens.
Onchain investigators say North Korean attackers exploited Binance’s internal systems and wallet-signing mechanisms to move more than $6 billion across multiple blockchains, making it the largest known crypto exploit on record. SomaXBT said about $242 million of the stolen funds was laundered on Tron. StoneX analysts said the response from issuers, DeFi protocols and Binance was unusually fast and coordinated, highlighting the role of regulated custody.
Market impact
Binance’s 24-hour net outflows fell to about $3.29 billion, down more than 50% from an earlier peak near $7 billion, according to DeFiLlama. The tracker estimates the exchange holds about $127.78 billion across linked onchain wallets. The decline in outflows and the staged withdrawal plan offer signs of stabilization, while the unreplenished assets and continuing recovery remain key measures of the exchange’s progress.
Frequently asked questions
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How much of the assets affected by Binance’s hack has been replenished?
Binance says it has replenished about 95% using its own funds. The remaining 5% is in less-liquid tokens it is still working to acquire.
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Which assets are included in Binance’s latest proof-of-reserves snapshot?
The snapshot covers BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC. Binance says users can independently verify 1:1 backing.
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When does Binance expect to restore more withdrawals?
Binance expects to begin progressively restoring withdrawals for additional networks and assets on Tuesday. It plans another reserves snapshot on Wednesday.
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How large was the exploit, and how were the funds moved?
Onchain investigators say attackers moved more than $6 billion across multiple blockchains after exploiting Binance’s internal systems and wallet-signing mechanisms.
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How have Binance’s net outflows changed since their peak?
DeFiLlama puts 24-hour net outflows at about $3.29 billion, down more than 50% from an earlier peak near $7 billion. It estimates linked onchain wallets hold about $127.78 billion.
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