Binance said it had covered approximately 90% of the assets stolen in a security incident, up from approximately 80% in its previous update. In its Oct. 31 announcement, the company also said it had set aside more than $6.34 billion in company funds to cover hacked losses. That figure describes funds set aside, not a stated theft total.
Binance said BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC were each fully backed. It described the outstanding 10% as less-liquid tokens outside that list and said it was still buying the affected assets through market and over-the-counter channels. The company said it had used its corporate treasury and part of its futures insurance fund for replenishment. A partial deployment of its Secure Asset Fund for Users, or SAFU, was expected within the next 24 hours. Binance pledged to absorb the financial impact rather than pass it to users and said it would replenish SAFU to approximately $1 billion.
Binance also said it had taken a proof-of-reserves snapshot at midnight UTC on Oct. 31 and updated its website. It estimated that the full zero-knowledge proof, which users of the 10 named tokens could use to check backing for their assets, would be generated by Nov. 3.
Withdrawals remained on track to reopen Sunday, Nov. 1, Binance said, with another update promised when details were confirmed. Its Oct. 31 announcement did not announce that withdrawals had resumed.
