Binance has issued a second progress update on its security incident, laying out two key next steps and their expected timing. The exchange said the notice was released at 3:33 a.m. on Oct. 31, UTC+8, and that it plans to conduct its first proof-of-reserves snapshot within 12 hours of that announcement. Results are scheduled to be published before Nov. 2. Based on the stated release time, the first snapshot is expected to be completed by 15:33 on Oct. 31, UTC+8. Binance also said its technical team is targeting a gradual restoration of withdrawal services in about 34 hours, subject to the progress of security checks. On that timeline, phased withdrawal recovery would begin before 13:33 on Nov. 1, UTC+8. In an earlier statement, Binance said it had prepared more than $6.34 billion in company funds. Of that amount, roughly $5 billion worth of affected token assets had already been secured, covering about 80% of the stolen assets, while the remainder was being purchased through on-exchange and over-the-counter channels. The company also said about $3 billion in affected assets had been frozen on-chain.
Binance released a second progress update on its security incident, setting out two follow-up milestones. The notice was published at 3:33 a.m. on Oct. 31, UTC+8.
According to the announcement, Binance plans to carry out its first proof-of-reserves snapshot within 12 hours of the notice and publish the results before Nov. 2. Based on the release time, the first snapshot is scheduled to be completed before 15:33 on Oct. 31, UTC+8.
Binance also said its technical team is aiming to gradually restore withdrawal services in about 34 hours, depending on the progress of security checks. On that basis, phased withdrawal recovery is targeted to begin before 13:33 on Nov. 1, UTC+8.
In an earlier statement, Binance said it had prepared more than $6.34 billion in company funds. It added that about $5 billion worth of affected token assets had already been secured, covering about 80% of the stolen assets, while the remaining portion was being purchased through exchange and over-the-counter channels.
Binance previously said about $3 billion in affected assets had also been frozen on-chain.
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