Binance has published a fresh Proof of Reserves (PoR) verification, using zero-knowledge technology to demonstrate that customer holdings are backed at least 1:1 after a record-breaking security breach estimated at more than $6 billion. The snapshot, taken on October 31, covers ten cryptocurrencies: Bitcoin, Ethereum, Tether, BNB, Solana, USD Coin, XRP, USD1, Ripple USD, and Zcash.
According to Binance’s November 2 recovery update, the exchange has replenished approximately 95% of the stolen assets using its own funds. The remaining 5% consists mainly of tokens with limited market liquidity, and Binance says it is still sourcing those assets. Co-CEO Richard Teng confirmed the development on X, stating: 'We’ve completed the latest Proof of Reserves verification, giving users another way to independently check that their assets are backed.'
Binance plans another reserve snapshot on Wednesday. Co-founder and Co-CEO Yi He noted that generating complete zero-knowledge proofs after each snapshot requires roughly 40 to 50 hours of computational processing, depending on the number of cryptocurrencies included. The exchange has also begun another phase of withdrawal restorations on November 3 at 04:00 UTC, with assets regaining access progressively after security and operational readiness checks. Deposit services remain operational, though temporary processing delays may occur.
Blockchain investigators have attributed the exploit to North Korean hackers who allegedly compromised internal systems and wallet authorization mechanisms. Investigators reported that about $242 million had been laundered through the Tron network. DeFiLlama data showed Binance’s 24-hour net outflows declining to approximately $3.29 billion from an earlier peak near $7 billion, while linked blockchain wallets held an estimated $127.78 billion in assets. StoneX analysts described the coordinated response by issuers, DeFi protocols, and Binance as evidence of improved coordination across cryptocurrency infrastructure providers.
