$ETH
Binance suddenly updates its Proof of Reserves address list
All withdrawals will now go through new wallets
Is this a complete overhaul?
Whoa
Guys
Binance has made another new move
On November 1
Binance officially announced
that it had updated its Proof of Reserves (PoR) address list
adding newly generated wallet addresses
More importantly
from now on
users’ withdrawals will be processed through these new wallet addresses
What does this mean?
Simply put
Binance hasn’t just updated its Proof of Reserves page
it’s also adjusted the wallet routes used to transfer users’ funds out
Why do this?
Following the recent theft incident
Binance is reviewing its fund flows and security mechanisms
Now that the new addresses are public
everyone can use blockchain explorers to track the on-chain activity of the related wallets
making it easier for outsiders to observe where the funds are going
Binance has also completed a new round of reserve snapshots
with 100% reserve coverage for 10 major tokens, including BTC, ETH, USDT, BNB, and SOL
The full zero-knowledge proofs are expected to be published on November 3
At that point, users will be able to further verify whether their assets are backed by reserves of at least 1:1
I think this is a step in the right direction for restoring confidence
The exchange is proactively replacing the hot wallet involved in the incident
and moving withdrawal channels to new addresses
It’s now rebuilding its risk management systems
That’s a good thing
At least in the short term
I think things should be safer
#币安更新储备证明地址
Binance suddenly updates its Proof of Reserves address list
All withdrawals will now go through new wallets
Is this a complete overhaul?
Whoa
Guys
Binance has made another new move
On November 1
Binance officially announced
that it had updated its Proof of Reserves (PoR) address list
adding newly generated wallet addresses
More importantly
from now on
users’ withdrawals will be processed through these new wallet addresses
What does this mean?
Simply put
Binance hasn’t just updated its Proof of Reserves page
it’s also adjusted the wallet routes used to transfer users’ funds out
Why do this?
Following the recent theft incident
Binance is reviewing its fund flows and security mechanisms
Now that the new addresses are public
everyone can use blockchain explorers to track the on-chain activity of the related wallets
making it easier for outsiders to observe where the funds are going
Binance has also completed a new round of reserve snapshots
with 100% reserve coverage for 10 major tokens, including BTC, ETH, USDT, BNB, and SOL
The full zero-knowledge proofs are expected to be published on November 3
At that point, users will be able to further verify whether their assets are backed by reserves of at least 1:1
I think this is a step in the right direction for restoring confidence
The exchange is proactively replacing the hot wallet involved in the incident
and moving withdrawal channels to new addresses
It’s now rebuilding its risk management systems
That’s a good thing
At least in the short term
I think things should be safer
#币安更新储备证明地址
