Binance: Stolen asset recovery rate rises to 90%, plans to resume withdrawals on Nov. 1

On October 31, according to an official announcement from Binance, its coverage ratio for affected assets following the security incident has risen from approximately 80% to 90%. BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC have achieved 100% coverage.

Binance stated that it will continue to purchase the remaining assets through market and over-the-counter transactions; the supplementary funds include portions of the User Security Reserve Fund (SAFU), futures insurance fund, and company capital. The company has committed to replenishing SAFU to approximately $1 billion.

Binance has released a Proof of Reserves snapshot taken at 08:00 Beijing Time on October 31, with the complete zero-knowledge proof expected to be generated on November 3. It stated that it still plans to resume withdrawals on November 1, with specific details to be announced separately once confirmed.