Binance said on Oct. 31 that it had replenished 90% of the token assets lost in a security incident, up from about 80% in its prior update. The exchange said it would absorb the financial impact rather than pass losses to customers.

What Binance says it has restored

The exchange said ten major assets are now backed at least one-to-one: bitcoin, ether, tether, BNB, solana, USDC, XRP, USD1, RLUSD and Zcash. Binance said the remaining 10% consists of less-liquid tokens that it is still sourcing through market and over-the-counter channels.

The replenishment uses a partial deployment of the Secure Asset Fund for Users, part of Binance’s futures insurance fund and the company’s treasury. Binance also took a new proof-of-reserves snapshot at 00:00 UTC on Oct. 31, while the full zero-knowledge proof is expected by Nov. 3 because generation takes 40 to 50 hours.

The incident date and withdrawal timetable

The underlying breach occurred around 20:05 UTC on Oct. 29, according to Binance’s Oct. 30 incident update. Binance estimated that unauthorized hot-wallet withdrawals caused about $6.3 billion in token losses; that event date is separate from the Oct. 31 publication date of the 90% recovery update.

Binance said it remains on track to resume withdrawals on Sunday, Nov. 1, using a phased process after security checks. That timetable is a company target, not a completed restoration, so customers should rely on the exchange’s official status notices.

What users and markets should watch

The next measurable checkpoints are the completed proof, reopening of withdrawals and acquisition of the remaining less-liquid assets. Readers tracking the policy backdrop can also review the UK’s new crypto authorization timetable, the Bank of England’s work on tokenized collateral in clearing and the CFTC’s planned 24/7 derivatives trading roundtable.

Primary sources: Binance’s Oct. 31 recovery update and Oct. 30 incident update.

Sharron Kendi is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence.