Reserve reports swaps, with an ownership caveat

Reserve reported at 05:08 UTC on October 30 that 3.38 billion RSR taken from Binance had been swapped through Uniswap v3 for 1,856 ETH, valued by the team at about $4.1 million. It placed the swaps between 00:53 and 01:08 UTC that day.

However, Reserve cautioned that the trades could include transactions with obscured attacker-funded wallets. Its assessment should therefore not be treated as definitive proof that the attacker no longer controls any RSR through other addresses.

What liquidity Reserve withdrew

In an earlier statement at 23:15 UTC on October 29, Reserve said it had temporarily removed Reserve-provided onchain RSR liquidity to prevent stolen tokens being sold against that capital. It also said it was working with Binance, trading firms and exchanges to flag attacker addresses, while monitoring RToken and DTF governance.

The action concerned liquidity supplied by Reserve, not a shutdown of every RSR market. The team described the token as immutable, without administrative keys allowing it to freeze balances, and said Reserve protocol contracts were unaffected.

Liquidity removal is different from stopping trading

Uniswap's liquidity documentation explains that providers deposit tokens into pools against which traders swap. Providers can reduce or close their own positions. Its v3 withdrawal guide describes returning the position's tokens and fees to the provider's wallet.

That mechanism explains the limited scope of a treasury withdrawal: it removes that provider's capital from trading, rather than confiscating another wallet's tokens or disabling all independent liquidity.

RSR also has functions beyond exchange trading. Reserve's documentation describes its governance role and its use as first-loss capital when staked on Yield DTFs. Those protocol roles are distinct from an exchange's custody of unstaked tokens.

This report does not infer a market-price outcome or a confirmed recovery from the reported swaps. See our main Binance incident coverage and DeFi guide for wider context.

Primary statements verified October 30, 2026, 05:53 UTC. Swap attribution and token-design claims are Reserve's assessments.