Binance said it has covered 90% of the shortfall caused by assets stolen in the attack and that reserves fully back 10 major tokens, including Bitcoin.
Binance’s post-attack recovery process has reached a new stage. According to a statement dated October 31 and reported by Wu Blockchain, the exchange said it had covered 90% of the asset shortfall and provided 100% reserve backing for 10 tokens.
Earlier, the exchange announced an approximately 80% recovery rate alongside its reopening plan. The latest announcement said that rate had increased and listed the assets with full reserve backing.
Which tokens are fully backed by reserves?
Binance’s statement listed these 10 assets:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- BNB
- Solana (SOL)
- USDC
- XRP
- USD1
- RLUSD
- Zcash (ZEC)
The reported full backing for these tokens is part of the overall recovery effort, which has addressed 90% of the total asset shortfall.
Funds drawn from SAFU and company treasury
The exchange said it used a portion of the SAFU user protection fund, balances in the futures insurance fund exceeding regulatory and risk management requirements, and its own corporate treasury to cover the shortfall.
Binance also pledged to restore SAFU to approximately $1 billion. The resources used to cover the shortfall thus included both protection funds and the company’s own assets.
November 1 withdrawal plan remains in place
The company said work to resume withdrawal services on November 1 was progressing in line with the previously announced timeline. The latest announcement confirmed the existing restart plan rather than stating that withdrawals had resumed.
Not investment advice.