Binance says 90% of assets affected by security incident have been replenished
Binance said it would cover all direct losses associated with the security incident, pledging to demonstrate its response through measurable progress, transparent reporting and concrete action.
Cryptocurrency exchange Binance says it has replenished 90% of assets affected by a recent security incident, up from 80% in its previous update, as it moves towards restoring withdrawals and fully backing all affected tokens.
In an update to customers, the company said Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB, Solana (SOL), USD Coin (USDC), XRP, USD1, RLUSD and Zcash (ZEC) are now fully backed at 100%.
Binance said the remaining 10% comprises less liquid tokens outside the top 10, which may take longer to source. The exchange said it was purchasing the outstanding assets through market and over-the-counter (OTC) channels, while also working with industry partners to complete the replenishment.
The company said the recovery effort was being financed through three sources: a partial deployment of its Secure Asset Fund for Users (SAFU), a portion of its Futures Insurance Fund and its corporate treasury.
The partial deployment of SAFU was expected to be completed within 24 hours of the announcement, Binance said, adding that a remaining balance would be maintained in the Futures Insurance Fund.
The latest update also highlighted the release of a new Proof of Reserves snapshot, taken on October 31, 2026, at 00:00 UTC.
Binance said the zero-knowledge proof required 40 to 50 hours to generate, with completion expected on Tuesday, November 3. Once available, holders of the 10 named tokens would be able to independently verify that their assets were backed at a minimum ratio of 1:1.
Proof of Reserves is a mechanism through which cryptocurrency exchanges provide evidence of assets held against customer balances. Binance said the latest snapshot would provide customers with an updated basis for verifying the backing of their holdings.
Withdrawals await reopening
The exchange said it remained on track to resume withdrawal services within its previously announced timeframe of Sunday, November 1, although it had not yet provided confirmed details on the reopening.
Binance said it would cover all direct losses associated with the security incident, pledging to demonstrate its response through measurable progress, transparent reporting and concrete action.
The company also urged customers to rely on its official communication channels for updates, warning against scammers posing as Binance representatives.
It cautioned users against sharing passwords, one-time passcodes or seed phrases, saying the company would never request such information.
The latest update marks further progress in Binance’s efforts to restore affected assets and reassure customers following the security incident, although full replenishment and the resumption of withdrawals remain key outstanding milestones.
