OfficialreservesStatement 292
The full zero-knowledge proof takes approximately 40 to 50 hours to generate due to the computational workload
Binance said on 31 October that the full zero-knowledge proof of reserves takes about 40 to 50 hours to generate.
This line is our short summary of the quote below. The quote is the evidence.
Cited in theories
- Questions raised about Binance's coverage of the loss: Context. Full proof of reserves still being generated.
Other statements from the same source
OfficialreservesStatement 733
Binance stated that the Secure Asset Fund for Users (SAFU) is an emergency reserve fund established in July 2018 to protect user assets in extreme cases, and that it is held and managed by Nest Clearing and Custody Limited, a Recognized Clearing House regulated by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority.
SAFU is an emergency reserve fund established by Binance in July 2018 to protect user assets in extreme cases, such as security breaches or platform-level incidents. Binance allocated a percentage of trading fees to grow the fund to a substantial level over time. The SAFU fund is held and managed by Nest Clearing and Custody Limited, a Recognized Clearing House regulated by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority. A portion of the funds serves as capital reserves as part of Binance regulatory obligations in the ADGM.
Published automatically from an official page.
OfficialamountStatement 726
Binance stated that it had set aside more than $6.34B in company funds to cover hacked losses and had covered approximately 80% of the impacted amount at the time of the last update.
Our last update explained that Binance had set aside more than $6.34B in company funds to cover hacked losses, and we had already covered approximately 80% of the impacted amount of the hacked loss at that time.
Published automatically from an official page.
OfficialrecoveryStatement 180
Binance said in Recovery Update #3 that it is committing to replenishing the SAFU fund to approximately US$1 billion.
Binance is committing to replenishing the SAFU to return the fund size to approximately US$1 billion.
OfficialwithdrawalsStatement 179
Binance said in Recovery Update #3 that it remained on track to reopen withdrawals on Sunday 2026-11-01.
We remain on track to reopen withdrawals within our previously stated timeframe (on Sunday, 2026-11-01) and will provide a further update as soon as details are confirmed.
OfficialreservesStatement 178
Binance said in Recovery Update #3 that the full zero-knowledge proof takes approximately 40 to 50 hours to generate and was estimated to be ready by Tuesday 2026-11-03 UTC.
The full zero-knowledge proof takes approximately 40 to 50 hours to generate due to the computational workload, so users holding any of these ten tokens can independently verify that their assets are at a minimum 1:1 backed once the full proof is generated, estimated to be by Tuesday, 2026-11-03 (UTC).