Binance said that the platform would use on-market channels and OTC to make up the tokens matching the stolen assets.
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Analysis:Binance is replenishing its holdings of the stolen altcoins, or may purchase XRP、SOL、UNI and other tokens
BlockBeats reports that October 30, according to Binance CEO disclosed that Binance is buying through OTC and on-market channels the altcoins that exactly match the stolen assets, in order to complete the proof of reserves (PoR). Updates will be provided after the purchases are completed.
Based on this statement and the disclosed records of stolen assets, including 233460000 units of XRP, approximately 296000000 USD；970,500 units of SOL, approximately 96000000 USD；46400000 units of TRX, approximately 16000000 USD.
In addition, the hacker has dumped UNI、ENA、PEPE、LINK、AAVE、ONDO and WLD—a total of 7 tokens—to exchange them for 70,480 units of ETH, with total transaction proceeds of approximately 158250000 USD. Among them, the dumping amounts for UNI、ENA、PEPE and LINK were approximately 39630000 USD、33930000 USD、31660000 USD and 26050000 USD, respectively.
Binance CEO disclosed that Binance is purchasing through OTC and on-market channels the altcoins that exactly match the stolen assets, in order to complete the proof of reserves (PoR).
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Binance said that updates will be provided after the purchases are completed.
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The disclosed stolen assets include 233460000 units XRP、970,500 units SOL and 46400000 units TRX。
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The hacker exchanged UNI、ENA、PEPE、LINK、AAVE、ONDO and WLD for 70,480 units of ETH, with total transaction proceeds of approximately 158250000 USD。
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UNI、ENA、PEPE and LINK had dumping amounts of approximately 39630000 USD、33930000 USD、31660000 USD and 26050000 USD。
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This information states that Binance the plan is to buy back tokens in quantities matching the stolen assets for the purpose of completing the proof of reserves; only the plan has been disclosed so far, and the completion of the purchases has not yet been verified.
Why it matters to readers
If implemented, the relevant tokens may see buying demand; however, the direct impact of over-the-counter trading on the public market may be limited.
Proof of reserves is an arrangement used to demonstrate that a platform holds the corresponding assets. Here, a distinction should be made between “planned purchases” and “completed purchases.”
Risks and unknowns
Binance The evidence has not yet disclosed whether the purchases have been completed, specific transaction details, or an update to the proof of reserves.
The quantities of the stolen assets and the hacker’s token-exchange records have not been independently confirmed on-chain or by official sources in the evidence.
The evidence does not specify OTC the actual respective sizes of the over-the-counter and on-market transactions or their impact on market trading volume.
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OTC
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