Update, Nov. 1: Binance now says the updated proof-of-reserves report is expected Monday, Nov. 2, not Tuesday. Read the latest.
Binance said Saturday morning that it has now replaced about 90% of the assets stolen in Thursday’s hack, up from roughly 80% in its previous update on Friday afternoon.
In “Security Incident Update #3,” posted on X at 10:30 AM ET, the exchange said user balances in ten tokens are fully backed: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC. The remaining 10% is in less liquid tokens outside that list, which Binance said it is still buying through market and over-the-counter channels and “may take longer to source.”
Binance said the money came from three places: a partial draw on its Secure Asset Fund for Users (SAFU), a portion of its futures insurance fund, and its own corporate treasury. It said it will refill SAFU to about $1 billion, and that the insurance fund remains above the level its risk framework requires.
The headline figures did not change. Binance still puts the loss at about $6.3 billion and says it has set aside more than $6.34 billion in company funds. About $3 billion remains frozen on-chain; co-founder Yi He wrote on X that recovering it will take a formal process.
The exchange also said it took a new proof-of-reserves snapshot at 00:00 UTC on Oct. 31 (8 PM ET Friday) and posted it to its reserves page. The zero-knowledge proof that lets users check their own balances will take 40 to 50 hours to generate, with completion estimated by Tuesday, Nov. 3 (UTC). Friday’s update had pointed to results by Monday.
Crypto withdrawals remain paused. Binance said it is “on track” to reopen them on Sunday, Nov. 1, and will confirm details later. Co-CEO Richard Teng wrote that users “will not bear the financial impact.”
Still pending: the actual reopening, technical findings and a post-mortem, and any official government attribution. Blockchain analytics firms Chainalysis and TRM attribute the attack to North Korea’s TraderTraitor group; no government has said so.
At 11:47 AM ET, CoinGecko showed BTC at $77,483 (+0.2% over 24 hours), ETH at $2,249 (+1.2%) and BNB at $706 (+1.2%).
Sources: Binance, Binance co-CEO Richard Teng (X), Binance co-founder Yi He (X), CoinGecko