In Recovery Update #7, posted on 4 November, Binance reported that about 98% of the amount taken in the recent security incident is back in place, and that a new proof-of-reserves snapshot now covers 44 tokens, up from 10 in the previous cut. The figures are the company’s own. The full text is in the X update.
The note frames the numbers as progress against a commitment the exchange already made: customers would not pay for the loss. The exchange says it will cover the cost of the stolen funds from its own resources, not customers. It has already set aside more than 100% of what it needs for the full bill. The 98% counts tokens bought back so far. The remaining about 2% is still being purchased on public markets and through OTC desks, where large blocks trade privately. Those purchases are slower because the tokens left are less liquid. Market and OTC buys for that last slice are the pace-setter for finishing the replenishment. The company says it will keep posting as that buying continues.
This continues the recovery from the hot-wallet incident of 29 and 30 October (earlier report).
New reserves snapshot
At 00:00 UTC on 4 November, Binance took a new proof-of-reserves snapshot. Coverage jumped from 10 tokens to 44. The snapshot is already on the proof-of-reserves site. The earlier 10-token cut is covered in Monday’s report.
The posted snapshot is the wider cut. The cryptographic proof that lets a holder check their own balance against it is still being built. Generating that full zero-knowledge proof should take about 50 to 60 hours, the company says, because of the computational load. Once the proof is ready, holders of any of the 44 tokens will be able to verify independently that their balances are at least 1:1 backed.
What is still open
The exchange lists three tracks still under way: buying the assets that remain, reopening withdrawals in stages, and strengthening safeguards on the platform. None of those three is presented as finished in Update #7. Further updates will follow as that work moves.
