Binance Says 90% of Stolen Assets Replenished Ahead of Sunday
Binance reports it has recovered 90% of stolen assets, with less-liquid tokens making up the remaining gap as withdrawals target Sunday.
Binance has replenished roughly 90% of assets stolen in a security breach, the cryptocurrency exchange disclosed, with the remaining shortfall concentrated in less-liquid tokens that are harder to source quickly on open markets.
The exchange said it is actively purchasing replacement assets through a combination of standard market trades and over-the-counter deals, a dual-track approach that allows it to acquire both widely traded and thinly traded digital assets without causing significant price disruption.
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Binance set Sunday as its target date to resume customer withdrawals, signaling confidence that the replenishment effort would reach a sufficient threshold by then. The focus on less-liquid tokens underscores the operational challenge exchanges face when reconstituting reserves that include a wide range of digital assets beyond major cryptocurrencies such as Bitcoin and Ether.
The disclosure offers a partial window into the exchange's incident-response playbook. By sourcing assets over the counter alongside exchange-based purchases, Binance aims to minimize market impact while moving at speed — a balance that becomes more difficult as it works through the thinner end of its token holdings.
The situation highlights broader questions about reserve management and withdrawal-suspension protocols at large centralized exchanges, where the ability to make customers whole quickly after a security event is a key measure of institutional resilience. Continue reading at Cointelegraph
