Binance says it has already refilled about 98% of the assets stolen in the Oct 29 hot-wallet hack.
Per Binance's recovery update #7 (via Odaily):
• Proof-of-Reserves snapshot widened from 10 tokens to 44
• Full zero-knowledge proof takes an estimated 50-60 hours
• The last 2% is being bought on the open market and OTC, so it will be slow
My take: the reserve proof is the real test. Users can verify 1:1 backing themselves instead of trusting a statement. Watch for the proof release and the phased restart of withdrawals.
Will the proof bring $BNB users back, or is trust already dented? Share your view.
#Binance #ProofOfReserves #BNB
Per Binance's recovery update #7 (via Odaily):
• Proof-of-Reserves snapshot widened from 10 tokens to 44
• Full zero-knowledge proof takes an estimated 50-60 hours
• The last 2% is being bought on the open market and OTC, so it will be slow
My take: the reserve proof is the real test. Users can verify 1:1 backing themselves instead of trusting a statement. Watch for the proof release and the phased restart of withdrawals.
Will the proof bring $BNB users back, or is trust already dented? Share your view.
#Binance #ProofOfReserves #BNB