Security Incident: PoR Snapshot Verifiable via ZK Proof

Recovery Update Confirms Full Backing of Key Assets, Transparency Enhanced

Binance has confirmed that all affected assets have been replenished using the company’s own funds, ensuring that Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), Solana (SOL), USD Coin (USDC), XRP, USD1, RLUSD, and Zcash (ZEC) are now fully backed at a 1:1 ratio. This update, the third in a series, also includes a new Proof of Reserve (PoR) snapshot taken on October 31, 2026, at 00:00 UTC, providing an updated and transparent view of the exchange’s asset holdings.

The full zero-knowledge proof for this latest PoR snapshot has been successfully generated within the projected timeframe. Binance users holding any of these ten specified tokens can now independently verify that their balances on the platform are backed by at least a 1:1 ratio. This verification can be performed using the dedicated tool available on Binance’s PoR website, with detailed instructions provided in a comprehensive guide.

The exchange plans to conduct another snapshot on November 4, 2026, which will encompass a broader range of tokens. The subsequent generation of an updated zero-knowledge proof is anticipated to take approximately 40 to 50 hours to complete, owing to the significant computational resources required.

As previously noted in Recovery Update #4, Binance has already covered approximately 95% of the total amount impacted by recent events. The remaining 5% consists of tokens not included in the aforementioned top ten list. These less liquid assets require more time to source at the necessary scale. Binance is actively collaborating with industry partners to finalize the acquisition of these remaining assets.

Furthermore, efforts are underway to reinstate withdrawal services for additional networks and assets. The next phase of this rollout is scheduled for tomorrow, and details will be shared once they are finalized.

Binance reiterates its commitment that the financial impact of the stolen funds will be absorbed by the company, not its users. The newly generated proof now publicly verifies the backed portion of this commitment.

Proof of Reserve Verification FAQs

Before you start: To perform your own verification, you will need to log in to your Binance account and download the verifier tool from the PoR website onto your computer.

Security reminder: For your own security, please ensure you are accessing only the official Binance website. Do not share your login credentials and avoid using untrusted devices.

Why is verifying my assets with PoR so complicated?
We understand that PoR verification can appear technical. It is built on cryptographic principles rather than requiring users to simply trust our word. The detailed steps are in place precisely to empower you to conduct your own checks. A step-by-step guide is available to simplify the process.

Why do I need to download the verifying files to my computer?
Verification is performed on your own devices to ensure that you are conducting your checks on your personal machine, providing an independent assurance of the results.

Are PoR and Zero-Knowledge Proofs reliable?
Yes. Binance’s Proof of Reserve system utilizes a Merkle Tree structure combined with zk-SNARKs (zero-knowledge succinct non-interactive argument of knowledge).

The Merkle Tree allows each user to independently confirm that their account assets are included in the reserves snapshot.

The zk-SNARK technology then proves, for the snapshot taken at 2026-10-31 00:00 UTC, that the reserves are backed at a minimum of 1:1, without revealing any individual user’s balance. This cryptographic proof allows you to confirm your assets are covered and included in the published PoR snapshot, without exposing your balance or that of any other user.