Binance said on November 2 that lower-liquidity tokens were slowing the replacement of stolen funds, with approximately 95% of the impacted amount already replenished. The platform scheduled withdrawals to begin reopening progressively on November 3 at 04:00 UTC as security and readiness checks were completed for each asset-network pair. Acquiring tokens, funding the purchases and restoring withdrawal networks are separate tasks, explaining how a commitment to cover stolen funds can coexist with an unfinished recovery. The remaining balance, estimated at 5% of the impacted amount, cannot be converted into a dollar shortfall because Binance did not specify the valuation basis used. The reserve proof dated October 31 covered ten tokens, while a broader snapshot covering more assets is planned for November 4, followed by proof generation estimated to take 40 to 50 hours. Binance said it will absorb the financial impact of the stolen funds rather than pass the losses on to users.
Source: Read the original article
