Binance announced the completion of a fresh zero-knowledge proof of reserves snapshot, enabling customers holding BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC to personally confirm their balances are backed at a 1:1 ratio.
Within its latest recovery update shared on Monday morning, the cryptocurrency platform noted that it has replaced roughly 95% of the capital impacted by last week’s security breach using its internal treasury, while the remaining 5% consists of less-liquid digital assets it is actively working to secure.
“We’ve finished the latest Proof of Reserves audit, providing participants another mechanism to independently verify that their funds are secured,” Binance Co-CEO Richard Teng stated via a message on X. “Additional tasks lie ahead, and we will keep sharing updates regarding our progress transparently.”
Binance has scheduled another reserves snapshot for Wednesday and indicated it anticipates starting the phased reactivation of withdrawals for additional networks and coins on Tuesday.
“Calculations are necessary to transition from the snapshot to the final comprehensive zero-knowledge proof, and the processing duration relies on the quantity of assets,” Binance co-founder and co-CEO Yi He commented on X. “Presently, creating the zero-knowledge proof is projected to require about 40 to 50 hours following the conclusion of the snapshot.”
Binance’s record $6 billion exploit
In what stands as the largest documented cryptocurrency theft in history, blockchain investigators report that hackers linked to North Korea breached Binance’s internal infrastructure and wallet-authorization protocols to transfer in excess of $6 billion across various blockchain networks. On Sunday, SomaXBT reported that North Korean threat actors laundered approximately $242 million of the stolen Binance funds utilizing the Tron network.
“The reaction from token issuers, decentralized finance protocols, and Binance itself was swifter and executed with superior coordination than anything the sector has witnessed previously, which we view as validation for several business models we monitor, particularly regulated custody,” StoneX market researchers mentioned Monday in an advisory sent to clients.
Binance’s net outflows over a 24-hour period decreased to roughly $3.29 billion, dropping over 50% from an earlier peak of approximately $7 billion, according to metrics from DeFiLlama. The analytics platform estimates that Binance maintains roughly $127.78 billion worth of digital holdings across its connected onchain addresses.
Originally published at https://www.theblock.co/news/business/2026-11-02-binance-zero-knowledge-proof-of-reserves-snapshot-hack-recovery-432321.
