Binance: Aims to restore withdrawals in phases within approximately 34 hours, has covered 80% of losses

On October 31, Binance issued a second update regarding the security incident, signed by co-CEOs He Yi and Richard Teng. The technical team aims to begin phased withdrawal restorations in approximately 34 hours, contingent on completing security checks; unaffected services such as deposits will continue operating normally.

Binance stated that it has set aside over $6.34 billion, including $5 billion in stolen equivalent tokens, covering approximately 80% of the affected amount; the remainder is being purchased through market and OTC channels. The first proof of reserve snapshot will be conducted within 12 hours, with results to be published on November 2.

Regarding the investigation, in addition to the initially suspected laptop breach, other vulnerability points have been identified. There is currently no evidence of wallet private key leakage, and further technical findings are expected to be disclosed within approximately 48 hours. As previously reported by TechFlow, this incident resulted in losses of approximately $6.3 billion, with around $3 billion already frozen on-chain.