Binance Publishes New Proof-of-Reserves Snapshot Following October Attack

TL;DR: Binance said on November 2 that it had completed a zero-knowledge proof-of-reserves procedure for a snapshot taken October 31, following the exchange’s late-October security incident. Proof of reserves should not be described as a full financial audit, a guarantee against losses or evidence that all stolen assets have been returned. In the aftermath of a major exploit, balance verification and service recovery are parallel tasks. Reserve attestations may restore visibility, while withdrawal readbacks show that the platform can operate. Neither should substitute for a full account of the breach. Reading the three separately makes it harder for one reassuring number to obscure unresolved questions. What the primary source establishes Binance said on November 2 that it had completed a zero-knowledge proof-of-reserves procedure for a snapshot taken October 31, following the exchange’s late-October security incident. Its announcement listed ten major cryptoassets, including Bitcoin, Ether, USDT, BNB, Solana, USDC, XRP and several dollar tokens. The company said the affected asset replenishment programme had reached approximately 95% at the time of the update. The dated original d...