Binance says it has recovered 95% of the assets affected by the hacker attack and continues to recover the rest
The broker claims to have reestablished coverage of ten cryptocurrencies with its own resources, while withdrawals return in stages after the theft of US$6.3 billion.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM TIMES BRASIL · 3 MIN
Binance claims to have recovered 95% of the value of assets affected by a hacker attack, according to Times Brasil. The remaining 5%, according to the broker, are low-liquidity cryptoassets, which take longer to purchase in large volumes. The announcement came after the theft of US$6.3 billion (~R$34.1 billion) in an attack recorded on Thursday, the 29th, according to Revista Oeste.
According to Times Brasil, coverage of BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC was fully reestablished with its own resources, and the broker says that these assets are 100% backed. Binance also updated its Proof of Reserves (PoR), an instrument that allows customers to check assets held and individual token balances reached.
On the withdrawal front, Revista Oeste reported that withdrawals were partially resumed on Sunday, the 1st. At 9:30 am that day, US$4.6 billion went out and US$1 billion in deposits came in, resulting in a net outflow balance of around US$3.6 billion (~R$19.5 billion). Withdrawals were also released for five more currencies, according to Times Brasil: USD, AED, VND, PHP and IDR.
According to DefiLlama, cited by Times Brasil, accumulated withdrawals total US$5.165 billion, equivalent to around R$28 billion. The number helps to measure the pressure on the platform's liquidity, but the data does not allow us to conclude, by itself, how fast the recovery will be.
What is at stake is trust in centralized custody. In a brokerage that stores resources from millions of clients, the recovery with equity depends on the ability to liquidate less liquid positions, and the deadline stated for this 5% suggests that normalization will not be immediate. For an editorial line that defends responsibility and transparency, the central point is that a broker's credibility is measured by verifiable proof, not by promise.
What changes for the investor
For those who invest and operate, the episode shows that custody security weighs as much as the asset itself. The Proof of Reserves and the disclosure of balances per token are the data that allow monitoring the replenishment, while the net outflow recorded when withdrawals are resumed indicates that some users preferred to withdraw resources. The effect on the market will depend on the time needed to recover the remaining 5% and how the broker responds to the next checks. This text is not a recommendation to buy or sell and does not project prices.
Automatically translated from Portuguese.
