Crypto Daddy
The latest Binance recovery update brings significant progress following the recent security incident. Binance reports that 90% of the affected stolen assets have now been replenished, while the exchange targets November 1, 2026, for the resumption of withdrawals.
Binance Increases Asset Coverage to 90%
In its third recovery update, published on October 31, 2026, Binance confirmed that the amount of affected stolen assets it has replenished has increased from approximately 80% to 90%.
According to the exchange, more than $6.34 billion in company funds had previously been set aside to cover the financial impact of the incident.
Binance says that BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now fully backed at 100%.
The remaining 10% consists of other tokens outside this group. Binance explained that these assets are less liquid and may take longer to acquire in the required quantities.
The exchange says it will continue purchasing the outstanding assets through market and over-the-counter (OTC) channels until full coverage is achieved.
How Is Binance Funding the Recovery?
Binance outlined three sources used in its replenishment efforts:
- SAFU Fund: A partial deployment of its Secure Asset Fund for Users.
- Futures Insurance Fund: A portion of the fund has been reallocated to support the recovery.
- Corporate Treasury: Binance is also using its own company funds.
The exchange stated that the remaining Futures Insurance Fund balance stays above the level required under its risk-management framework.
Binance also committed to replenishing the SAFU Fund to approximately $1 billion, maintaining its role as an emergency reserve for user protection.
New Proof of Reserves Snapshot Published
Alongside the recovery announcement, Binance confirmed that it had taken a new Proof of Reserves (PoR) snapshot at 00:00 UTC on October 31, 2026.
The updated snapshot has already been published on its Proof of Reserves website.
Binance explained that the full zero-knowledge proof requires approximately 40–50 hours to generate because of the computational workload. The exchange estimates that users will be able to independently verify the relevant asset backing by November 3, 2026.
Proof of Reserves allows users to check whether their assets are backed by corresponding reserves on the platform.
Binance Targets November 1 for Withdrawal Resumption
One of the most important points in the announcement concerns withdrawals.
Binance stated that it remains on track to reopen withdrawal services on Sunday, November 1, 2026.
However, the exchange noted that it will provide another update once the details are confirmed.
This means users should continue monitoring official Binance announcements for confirmation rather than assuming that withdrawals have already resumed.
What Does This Mean for Binance Users?
The latest update represents meaningful progress in Binance’s response to the security incident.
The reported 90% coverage, the updated Proof of Reserves snapshot and the commitment to replenish SAFU are important developments for users monitoring the situation.
Nevertheless, 90% coverage does not mean the entire recovery process is complete. Binance still needs to acquire the remaining affected assets and confirm the reopening of withdrawal services.
For now, the next major milestones are the expected withdrawal reopening on November 1 and the completion of the updated zero-knowledge proof, estimated for November 3.
Final Thoughts
Binance’s latest recovery update signals substantial progress, with 90% of the affected stolen assets now covered, according to the exchange.
The focus now shifts to completing the remaining replenishment, restoring withdrawal services and maintaining transparency through Proof of Reserves.
The next few days will be important for Binance and its users as the exchange works toward completing its recovery commitments.
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Source: Binance Official Announcement – October 31, 2026.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Details regarding recovery progress and withdrawal timelines are based on Binance’s official statements and may be updated.
