Binance says stolen crypto has been replaced but some customers have to wait
Binance says it has replaced customer assets lost in its security incident and reopened withdrawals on 87 networks this week.
The exchange aims to restore the remaining networks and assets by the end of next week, leaving some customers waiting despite its completed-coverage announcement. The announcement, signed Nov. 13, accompanies a reserve snapshot covering 198 tokens. For customers, the next question is whether covered balances can be verified and moved off the exchange.
In its Nov. 4 update, Binance put replenishment at approximately 98%, with purchases of less-liquid tokens still continuing. The latest notice says that replacement process is complete. CryptoSlate's earlier coverage of the sourcing delays described the difficulty of acquiring thinly traded tokens alongside progressive withdrawal reopening.
Expanded verification process
Binance's wider snapshot, a separate verification step, was taken at 00:00 UTC on Nov. 12 and spans 198 tokens, compared with 44 in the Nov. 4 snapshot. The expanded snapshot covers more tokens, but does not establish whether each asset and network is available for withdrawal.
The latest notice says the snapshot is available on its proof-of-reserves website. It separately estimates approximately 40 to 50 hours to generate the full zero-knowledge proof, after which affected holders would be able to verify minimum one-for-one backing.
A published snapshot and an available verification result therefore describe different stages. The announcement does not confirm that proof generation is complete.
Withdrawal status
Binance's statements are attributed assurances. Current full-proof availability and individual withdrawal routes are unverified. Dots count tokens at snapshot times, not reserve value or withdrawal routes.
In its Nov. 14 recovery update, Binance said withdrawals had reopened on 87 networks this week. It aims to reopen all remaining networks and assets by the end of next week, while warning that rollout traffic could cause delays or longer processing times.
SAFU fund restoration
Binance says it committed more than $6 billion in company funds, drawing on corporate treasury, partial deployment of its Secure Asset Fund for Users and a portion of Futures insurance resources above its stated risk-management requirement.
It separately commits to returning SAFU to approximately $1 billion. The announcement does not report that restoration as complete. Replacing affected customer assets and restoring an emergency reserve serve different purposes.
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