Is Binance’s new Proof of Reserves report coming out today? Don’t just look at “1:1”—here are 3 things you can verify yourself
Binance says its new Proof of Reserves (PoR) report is coming soon, but there’s really only one thing you can verify yourself: whether your balance is included.
First, let’s lay out what Binance has officially said (all from Binance’s official X account):
1. The third update on October 31: The new PoR snapshot was taken at 00:00 UTC on October 31, and the snapshot has been updated on the PoR website. The full zero-knowledge proof takes 40 to 50 hours to calculate and is expected to be generated by November 3 (Tuesday, UTC).
2. The withdrawal progress post at 00:12 Beijing time on November 2: The updated report is “expected tomorrow” on the PoR website—that is, November 2 (UTC).
3. Another post on the afternoon of November 1: New wallet addresses have been added to the PoR address list, and all future withdrawals will be sent from these new addresses.
The two timelines don’t match: one says November 2, the other says by November 3. I won’t guess which one it’ll be. As of the time of this post, I haven’t seen an announcement on Binance’s official X account saying the “new report is live.”
Once the report is out, check these 3 things:
· The snapshot time. This snapshot is from 00:00 UTC on October 31, so withdrawals and deposits made over the following two days aren’t included.
· Your own records. Proof of Reserves means each user can check whether their balance is included in the total liabilities. If you can’t find yours, the impressive-looking totals have nothing to do with you.
· Which coins are covered by the reserve ratio. The official claim of “at least 1:1” applies to these 10 coins: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC—not every coin on the platform.
Here’s the uncomfortable truth: Proof of Reserves proves that “at a certain point in time, the funds match the books.” It doesn’t prove that “nothing will go wrong in the future.”
Also, the withdrawal addresses have changed. If you receive a small transfer from an unfamiliar address, don’t blindly copy that address.
Part 3 of the “Check It Yourself” series. Once the report is live, let’s go through it together tonight at 22:40.
#储备证明 #币安 #CheckItYourself
Binance says its new Proof of Reserves (PoR) report is coming soon, but there’s really only one thing you can verify yourself: whether your balance is included.
First, let’s lay out what Binance has officially said (all from Binance’s official X account):
1. The third update on October 31: The new PoR snapshot was taken at 00:00 UTC on October 31, and the snapshot has been updated on the PoR website. The full zero-knowledge proof takes 40 to 50 hours to calculate and is expected to be generated by November 3 (Tuesday, UTC).
2. The withdrawal progress post at 00:12 Beijing time on November 2: The updated report is “expected tomorrow” on the PoR website—that is, November 2 (UTC).
3. Another post on the afternoon of November 1: New wallet addresses have been added to the PoR address list, and all future withdrawals will be sent from these new addresses.
The two timelines don’t match: one says November 2, the other says by November 3. I won’t guess which one it’ll be. As of the time of this post, I haven’t seen an announcement on Binance’s official X account saying the “new report is live.”
Once the report is out, check these 3 things:
· The snapshot time. This snapshot is from 00:00 UTC on October 31, so withdrawals and deposits made over the following two days aren’t included.
· Your own records. Proof of Reserves means each user can check whether their balance is included in the total liabilities. If you can’t find yours, the impressive-looking totals have nothing to do with you.
· Which coins are covered by the reserve ratio. The official claim of “at least 1:1” applies to these 10 coins: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC—not every coin on the platform.
Here’s the uncomfortable truth: Proof of Reserves proves that “at a certain point in time, the funds match the books.” It doesn’t prove that “nothing will go wrong in the future.”
Also, the withdrawal addresses have changed. If you receive a small transfer from an unfamiliar address, don’t blindly copy that address.
Part 3 of the “Check It Yourself” series. Once the report is live, let’s go through it together tonight at 22:40.
#储备证明 #币安 #CheckItYourself
