NES trading is back on Binance Alpha and Kraken after the Aug. 24 token-contract exploit, but Binance’s recovery rules split holders into two camps: those who qualify for a 1:1 swap and those pushed onto a refund track with no published formula.
Binance said in its announcement that Alpha 2.0 would support NES contract swapping and resume trading at 08:00 UTC on Sept. 10. The exchange is using two snapshots to decide who gets what. Holders who owned NES before the incident, before Aug. 24 at 14:51 UTC, must also have still held an eligible portion when trading was suspended on Sept. 5 at 04:00 UTC. Only holdings that pass both checks get the 1:1 swap to the new contract.
Tokens bought after the Aug. 24 cutoff are excluded from the swap. Binance said users with eligible net purchases in the specified window will receive an email with refund details within seven business days of the announcement. What the announcement does not do is disclose how refunds are calculated, and it does not promise that every affected holder will be made whole.
Kraken took a different route. Its incident page shows Ethereum deposits and withdrawals returning at 14:00 UTC on Sept. 10, with the funding incident marked resolved twelve minutes later. Kraken said NES tied to its incident would migrate 1:1 to a new Ethereum contract, and that BNB Chain funding would stay disabled, with only Ethereum-based NES supported going forward.
The exploit itself exposed 286 million NES tokens on Aug. 24, though no dollar valuation of that figure is confirmed. NES trades on both Ethereum and BNB Chain, and the chain a holder used now changes the recovery path: Kraken has dropped BNB Chain support outright, and neither exchange notice offers a migration process for NES sitting in private wallets.
The refund emails are the next dated event on the Binance side, due within seven business days of the Sept. 10 announcement.
