CryptoSlate
Binance says it has fully replaced the customer assets lost in its security incident, up from the roughly 98% replenishment it reported on Nov. 4 when purchases of thinly traded tokens were still in progress. Withdrawals have reopened on 87 networks this week, and the exchange aims to restore all remaining networks and assets by the end of next week, though rollout traffic may still cause processing delays.
The announcement, signed Nov. 13, comes with a reserve snapshot taken at 00:00 UTC on Nov. 12 covering 198 tokens, a sharp expansion from the 44 tokens in the earlier Nov. 4 snapshot. Binance estimates 40 to 50 hours to generate the full zero-knowledge proof, after which affected holders can verify minimum one-for-one backing. Proof generation is not confirmed complete, and a published snapshot is a different stage from a verifiable result.
Why it matters
The completed-coverage claim advances the recovery from a partial process to a stated finish, but the practical milestones for customers sit elsewhere: accessible verification of covered balances, confirmed availability of each withdrawal route, and compensation mechanics for a small number of supported tokens Binance no longer lists, which will be covered through its delisting process with no timeline yet specified.
The exchange also committed more than $6 billion in company funds across corporate treasury, partial deployment of its Secure Asset Fund for Users, and a portion of Futures insurance resources above its stated risk-management requirement. It separately pledges to return SAFU to approximately $1 billion, a commitment that remains distinct from and incomplete alongside the completed coverage assurance.
Market impact
The phased withdrawal reopening is the variable markets will track next. Each restored network expands exit liquidity for affected holders, and the expanded 198-token snapshot signals the verification scope now matches the breadth of the incident. Watch the proof-of-reserves page for confirmation that the zero-knowledge proof has been generated, and the withdrawal page per asset before assuming any route is live.
Frequently asked questions
-
Is Binance's replacement of stolen customer assets fully complete?
Yes. The Nov. 13 announcement says the replacement process is complete, advancing beyond the approximately 98% replenishment Binance reported on Nov. 4 when purchases of less-liquid tokens were still continuing.
-
Which withdrawal networks has Binance reopened after the incident?
Binance says withdrawals reopened on 87 networks in its Nov. 14 recovery update, and it aims to reopen all remaining networks and assets by the end of the following week, warning that rollout traffic could still cause delays.
-
How many tokens does the new Binance proof-of-reserves snapshot cover?
The snapshot taken at 00:00 UTC on Nov. 12 covers 198 tokens, compared with 44 tokens in the Nov. 4 snapshot. Binance estimates 40 to 50 hours to generate the full zero-knowledge proof.
-
Can customers verify their balances are backed one-for-one?
Verification will be possible once the full zero-knowledge proof is generated, which Binance estimates will take roughly 40 to 50 hours from the snapshot. The announcement does not confirm that proof generation is complete.
-
What is Binance doing about SAFU after the security incident?
Binance committed more than $6 billion in company funds, including partial deployment of its Secure Asset Fund for Users, and pledges to return SAFU to approximately $1 billion. That restoration has not been reported as complete.
CoinTelegraph
TheBlock
WuBlockchain
Crypto Rank News
CoinDesk