Binance says it has replenished 98% of affected assets and expands its reserve snapshot

A new progress report after the incident

Binance published a seventh progress update on November 4 at 15:23 on the replenishment of assets affected by its recent security incident. The platform says it has now repurchased or replenished approximately 98% of the impacted assets. It also says it has set aside more than 100% of the funds required from its own resources so that losses are not passed on to users. These figures come from Binance and, by themselves, do not constitute independent verification of the amount actually restored to reserves.

According to the company, the remaining 2% consists of less liquid tokens. Binance says it is continuing to acquire them through market and over-the-counter channels, while warning that this phase may move more slowly. The announcement provides no detailed list of those assets, no quantities still to buy and no firm timetable for reaching 100%. It therefore does not establish that replenishment is complete, even though the reported percentage has increased from earlier updates.

The snapshot covers 44 tokens, but the full proof is still pending

The platform also took a new proof-of-reserves snapshot at 00:00 UTC on November 4. The snapshot covers 44 tokens, compared with 10 in the previous snapshot. It describes balances captured at a specific time; it does not continuously track every later movement. Binance directs users to its proof-of-reserves page to review the included assets and the data it has published.

The complete cryptographic proof was not available when the announcement was issued. Binance estimates that computing the zero-knowledge proof associated with the snapshot will take 50 to 60 hours. Once published, the proof is intended to let holders of covered tokens verify that their balances are included and that corresponding reserves meet at least a one-to-one ratio. Until that computation is complete and accessible, the announced snapshot must be distinguished from the final cryptographic proof.

Three checks remain before declaring a return to normal

The update combines three separate issues: replacing stolen assets, publishing a reserve snapshot and progressively reopening withdrawals. Improvement in one area does not automatically prove that the other two are complete. Binance says it is continuing purchases, reopening withdrawals in phases and strengthening safeguards. The actual status of a withdrawal must therefore still be checked for each asset and network instead of being inferred from the overall replenishment percentage.

The next useful evidence will be the actual publication of the zero-knowledge proof, the ability to verify it across all 44 tokens, documented completion of the remaining 2% replenishment and measurable normalization of withdrawals. An independent review of the incident and the fixes would provide a separate check on the company’s statements. As of November 5 in Paris, the verifiable fact remains narrower: Binance claims 98% replenishment and an expanded snapshot, while the full cryptographic proof and completion of the process still need confirmation.