Binance News Update | Binance Publishes New Proof of Reserves Snapshot, Full Zero-Knowledge Proof Due Tuesday as Withdrawals Stay on Track for Sunday

Binance has taken a new Proof of Reserves snapshot and published it on its Proof of Reserves website, the exchange said on Saturday, October 31. The snapshot, taken at 00:00 UTC on October 31, gives an updated view of assets that are fully accounted for following its recent security incident. A full zero-knowledge proof, which will let users independently verify their balances, is expected by Tuesday, November 3 (UTC).Users Can Verify 1:1 BackingThe full zero-knowledge proof takes about 40 to 50 hours to generate because of the computing power involved, Binance said. Once it is ready, users holding any of the ten tokens Binance has fully backed, BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC, will be able to confirm independently that their assets are backed at least 1:1.A zero-knowledge proof lets an exchange show that its reserves cover all user balances without revealing any individual account details. Binance had earlier targeted Proof of Reserves results by Monday, November 2; the snapshot is now live, with the full proof following on Tuesday.Commitment to Cover All LossesBinance repeated that it will fully cover the financial impact of the funds stolen in the incident. “We will continue to demonstrate this commitment through measurable progress, transparent reporting, and concrete actions,” the exchange said. It has already replenished 90% of the stolen assets and is buying the remaining, less liquid tokens through market and over-the-counter channels.Withdrawals on Track for SundayReopening withdrawals is Binance’s next milestone. The exchange said it remains on track to resume withdrawals within its previously stated timeframe, on Sunday, November 1, and will share details once they are confirmed.