Binance: Reimbursement Ratio for Stolen Assets Rises to 90%; Withdrawals Planned to Resume on November 1

According to TechFlow, on October 31, Binance’s official announcement stated that the reimbursement ratio for assets affected by the security incident has increased from approximately 80% to 90%. BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC have achieved 100% coverage.

Binance said it will continue to purchase the remaining assets through market and over-the-counter (OTC) transactions. Reimbursement funding includes part of the Secure Asset Fund for Users (SAFU), part of the futures insurance fund, and corporate funds. The company has committed to replenishing SAFU to approximately $1 billion.

Binance has published a proof-of-reserves snapshot as of 08:00 Beijing Time on October 31, with the full zero-knowledge proof expected to be generated on November 3. It said it still plans to resume withdrawals on November 1, with further details to be announced once confirmed.

Source: TechFlow