Binance says 98% of affected assets have been replenished: verification must wait for the 44-token PoR proof to be generated
There has been further progress in the Binance security incident, but “98% replenished” is not the end of the story. In its Recovery Update #7, Binance said that about 98% of the affected assets had been replenished, while the remaining 2% still needed to be acquired through market and over-the-counter channels due to lower liquidity. It also said that a new proof of reserves snapshot covering 44 tokens was completed on November 4 at 08:00 Beijing time.
This update is worth watching because it moves the market discussion beyond “Have withdrawals resumed?” to two more specific questions: When will the remaining 2% be replenished? And when will the new PoR become independently verifiable? Officials estimate that generating the complete zero-knowledge proof will take another 50–60 hours. In other words, completing the snapshot does not mean the proof has been generated, and reaching 98% replenishment does not mean withdrawal services have resumed across all networks.
If you want to check the trading status of major assets, you can start with [BTC / USDT Spot](https://www.binance.com/zh-CN/trade/BTC_USDT) or [BTC / USDT Perpetual](https://www.binance.com/zh-CN/futures/BTCUSDT). These links lead to different markets: spot trading involves actual buying and selling and asset delivery, while perpetuals also involve funding rates, leverage, liquidation, and mark-price risk. Their trading volumes and price performance should not be conflated.
As of approximately 08:06 Beijing time on November 5, 2026, Binance’s public API showed BTC spot at around 80,540 USDT, up 3.928% over 24 hours, with 24-hour quote trading volume of approximately 1.747 billion USDT. The latest BTCUSDT perpetual price was around 80,506.10, the mark price around 80,506.00, open interest around 96,205.982 BTC, and the funding rate around 0.002573% per 8 hours. Both spot and perpetual markets were in TRADING status. These price, OI, and funding-rate figures are intraday snapshots and do not establish that the recovery announcement alone caused the rise.
My assessment is that this update is a positive step toward restoring trust, but what the market should really wait for is a “verifiable chain of evidence,” rather than continuing to chase percentages. The first confirmation is the generation of complete ZK proofs for all 44 tokens, available for users to verify; the second is a continued reduction in the remaining low-liquidity assets; the third is a stable restoration of withdrawal status across all networks. If gaps remain in asset coverage, network status, or user balance verification after the proofs are generated, the 98% figure alone is not enough to signal that the risk has been resolved.
To compare spot trading options for different assets, see [ETH / USDT Spot](https://www.binance.com/zh-CN/trade/ETH_USDT). But whether it is BTC, ETH, or BNB, PoR coverage should be assessed based on official snapshots and verifiable proofs. Do not treat token labels, trading volume, or a single day’s price movement as proof of reserves.
Sources:
1. Binance Recovery Update #7: https://www.binance.com/en/square/post/384674399709556
2. Binance Support announcement list: https://www.binance.com/en/support/announcement/list/0000000000000000000000049
3. Binance Square trends page (observed at approximately 08:04 Beijing time): https://www.binance.com/en/square/trends
Risk disclosure: This article is for informational purposes only and reflects observations of public events and market data; it does not constitute investment advice. Event developments, PoR proof generation times, withdrawal status, and intraday market conditions may change. Spot and perpetual markets differ in liquidity, funding rates, leverage, liquidation, and settlement mechanisms. The cover image is a locally saved 4-hour BTCUSDT chart from 8790, for trend observation only. The official long-form article interface only confirms support for a single cover image; this does not mean the chart is embedded in the article body.