Binance says it plans to complete the PoR snapshot today before 15: 33 with withdrawals targeted to resume in phases tomorrow before 13: 33
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AT A GLANCE
Binance said it will arrange the PoR snapshot and aims to restore withdrawals in phases, depending on the progress of the security checks.
Article
Binance：Withdrawals are expected to resume in phases before tomorrow 13: 33 and a proof-of-reserves snapshot is planned before today 15: 33 BlockBeats reported that October 31，Binance issued a second security incident update announcement early this morning, disclosing two key subsequent time arrangements. The announcement was released in the early hours of today 3: 33（UTC+8),Binance stated that it plans to conduct an initial proof-of-reserves (PoR) snapshot within 12 hours after the announcement was released and publish the results before November 2; meanwhile, the technical team aims to gradually restore withdrawal services in approximately 34 hours, depending on the progress of the security checks.
Calculated from the announcement's release time,Binance plans to complete the initial PoR snapshot today before 15: 33; withdrawal services are targeted to begin resuming in phases tomorrow before 13: 33. Approximately 6 hours 20 minutes remain until the planned PoR snapshot time, and approximately 28 hours 20 minutes remain until the withdrawal restoration target.Binance previously stated that more than 6340000000 USD in company funds had been prepared, including approximately 5000000000 USD worth of affected token assets already in place, covering approximately 80%of the stolen assets; the remainder is being purchased through on-exchange and over-the-counter channels. In addition, approximately 3000000000 USD of the affected assets have been frozen on-chain.
Original link https://m.theblockbeats.info/flash/374751
Key points
01
BlockBeats reported that Binance released its second security incident update announcement at October 31 early morning 3: 33（UTC+8).
02
Binance said it plans to conduct the initial proof-of-reserves (PoR) snapshot within 12 hours after the announcement was released and publish the results before November 2.
03
Binance's technical team aims to gradually restore withdrawal services in approximately 34 hours, depending on the progress of the security checks.
04
Calculated from the announcement's release time, the initial PoR snapshot is planned to be completed today before 15: 33 and withdrawals are targeted to begin resuming in phases tomorrow before 13: 33.
05
Binance previously stated that more than 6340000000 USD in company funds had been prepared, including approximately 5000000000 USD worth of affected token assets already in place, covering approximately 80%of the stolen assets.
06
Binance said the remainder is being purchased through on-exchange and over-the-counter channels, while approximately 3000000000 USD of the affected assets have been frozen on-chain.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Withdrawals had not yet resumed at that time. Binance gave two targets: first to conduct a proof-of-reserves snapshot, then to gradually restore withdrawals based on the progress of the security checks. The PoR snapshot is a record of the reserves claimed by the platform, but the article did not provide the snapshot results.
Why it matters to readers
Whether withdrawals can resume as targeted and whether the PoR results are published as scheduled are direct indicators for assessing the subsequent handling of the security incident.
Users of Binance can monitor announcements on the restoration of withdrawals and the PoR results; the times stated in the article are plans or targets, not completed events.
Risks and unknowns
The article did not provide the original link to Binance's security incident update announcement; the relevant content came from BlockBeats' account.
Whether the PoR snapshot was completed as planned, the content of the results, and whether they were published before November 2 have not yet been confirmed.
Whether withdrawals can begin resuming in phases at the target time depends on the progress of the security checks.
The progress of purchasing the remaining affected assets and the subsequent handling of the frozen assets remain unclear.
The article did not explain the full course of the security incident or provide independently verified information on the total value of the stolen assets.
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Related concepts
PoR
This term is not in the glossary yet. Browse related concepts in the glossary.
The process of recording the state of a blockchain ledger at a specific point in time; its contents may include addresses and their transactions, fees, balances, and metadata.
