CryptoCrib007

🌎 Major recovery progress reported – October 31, 2026
The latest update is relatively encouraging for Binance users. Binance says it has replenished 90% of the stolen assets, frozen approximately $3 billion through industry cooperation, and is targeting Sunday, November 1, to resume withdrawals.
However, the full technical investigation is still ongoing, and the attackers have not yet been publicly identified with certainty.
🌎 Here is the latest situation as of October 31, 2026.
Latest recovery progress - 90%
Stolen assets replenished by Binance -90% covered
Binance says $BTC , $ETH , USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now fully backed at 100%.
The remaining 10% consists of less-liquid tokens that Binance is still purchasing through market and OTC channels.
🌎 What happened to Binance's security systems?
The attack occurred on October 29, around 20:05 UTC.
The investigation has revealed more than initially suspected:
* The initial theory involved a compromised DevOps engineer's laptop.
* Further investigation uncovered additional points of breach.
* Investigators reported that attackers exploited Ethereum's EIP-7702 account-delegation feature.
* A self-destruct mechanism was reportedly used to erase evidence.
* Binance says it has found no evidence that wallet private keys were leaked.
Important: Binance has not yet published the complete attack sequence or final root cause.
Have the hackers been identified? North Korea-linked hackers suspected
Blockchain intelligence firms Elliptic and TRM Labs have attributed the attack with high confidence to North Korea-linked hacking operations, particularly the TraderTraitor group.
This attribution is based on blockchain movements and similarities to previous attacks. It has not yet been conclusively confirmed by Binance or law enforcement.
🌎 What happened to the stolen XRP?
$XRP
This is particularly interesting for XRP holders.
According to Elliptic's investigation:
* Approximately 233 million XRP was transferred from five Binance XRP wallets.
* The XRP was sent to an attacker-controlled address.
* The stolen XRP had not moved at the time of Elliptic's October 30 analysis.
* XRP cannot be frozen by Ripple in the same way as issuer-controlled stablecoins.
This means tracking and recovering the XRP could be more difficult than recovering certain stablecoins. Elliptic
🌎 When will Binance withdrawals resume?
Target: November 1, 2026
Binance's October 31 update says it remains on track to reopen withdrawals on Sunday, November 1.
🌎 My assessment: What matters next?
I see four important milestones:
* Withdrawal restoration: Binance must demonstrate that its infrastructure is secure before reopening withdrawals.
* Root-cause disclosure: We need to understand whether the breach originated from an employee device, internal access controls, transaction signing, or multiple vulnerabilities.
* Fund recovery: The approximately $3 billion frozen is significant, but freezing is not the same as returning the funds.
* Independent verification: Updated Proof of Reserves and the technical post-mortem will be important for rebuilding confidence.
My conclusion: Binance has demonstrated a substantial financial response by committing to cover the losses. Its recovery progress is encouraging, but the real test will be whether it can restore withdrawals safely and disclose exactly how attackers bypassed its security controls.
Official updates:
* [Binance Recovery Update #3 – October 31](https://www.binance.com/en-GB/support/announcement/security-incident-recovery-update-3-90-of-stolen-assets-replenished-proof-of-reserves-snapshot-provided-2026-10-31-1fdf1f61559c401da0435895ffcccb62?utm_source=chatgpt.com)
* [Binance Security Incident Update #2 – October 30](https://www.binance.com/en/support/announcement/detail/d3306d9dca5243548c813b605e1d1751?utm_source=chatgpt.com)
One important question remains: How could attackers bypass the security controls of the world's largest cryptocurrency exchange and move billions of dollars?
That is the root cause we should be watching for in Binance's upcoming technical post-mortem.
#Write2Earn #BinanceRecovery90% of stolen assets #YiHe:ProofOfReserves:10TokensAt100%Backing