Binance Security Update: PoR Zero-Knowledge Proofs Ready for User Verification of Top 10 Crypto Reserves

Binance Releases Recovery Update #5, Users Can Now Verify Reserves

Binance announced on November 2nd, Taipei time, via its official X account, that Recovery Update #5 confirms the completion of the full zero-knowledge proof (zk-proof) for its October 31st (UTC) Proof of Reserves (PoR) snapshot. Users holding the 10 major tokens – BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC – can now independently verify on the official website’s verification tool that their account balances are backed by at least a 1:1 reserve.

The exchange plans to conduct another snapshot on November 4th, which will encompass a wider range of tokens. Following this, the generation of the full zero-knowledge proof is estimated to take approximately 40 to 50 hours. Regarding previous progress, approximately 95% of the affected assets have been replenished. The remaining 5%, consisting of less liquid tokens, are still being acquired through market purchases and over-the-counter (OTC) trades. Binance also stated that it will gradually resume withdrawals for more networks and assets, with further details to be announced.