Dear Binancians,
In Recovery Update #3, we confirmed that the affected assets had been replenished with Binance’s own funds and that all BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are 100% backed. We also took a new Proof of Reserve (PoR) snapshot as of 2026-10-31 00:00 (UTC) to provide an updated view of our assets in the interest of transparency.
The complete zero-knowledge proof for this latest PoR snapshot was completed within the estimated timeframe. Binance users who hold any of these ten tokens can independently verify that their Binance balances are backed at least 1:1. They can do so using the verification tool on our PoR page. See the instructions in our guide here.
We plan to take another snapshot covering more tokens on 2026-11-04. We will then generate an updated, complete zero-knowledge proof, which we estimate will take approximately 40 to 50 hours due to the computational workload.
As we noted in Recovery Update #4, Binance has already covered close to 95% of the affected amount. The remaining 5% corresponds to tokens not included among the ten mentioned above. These assets are less liquid and take more time to acquire at the required scale. We continue to work with industry partners to complete the remaining acquisitions.
We are also working to resume withdrawals across more networks and assets. The next phase is planned for tomorrow: it will be a gradual rollout, and we will share the details when it is ready.
Our commitment remains unchanged: Binance will absorb the financial impact of the stolen funds, not our users. With the proof generated, the backed portion of that commitment can now be publicly verified.
Thank you for your support!
The Binance Team
02-11-2026
Frequently Asked Questions About Proof of Reserve Verification
Binance publishes Proof of Reserve (PoR) so users don't have to take our word for it. The public can learn about PoR and how it cryptographically proves that users' assets on Binance are backed at least 1:1 here.
Users can learn how to verify in our guide here.
Before you begin: you need to log in to your Binance account and download the verification tool from the PoR site to your computer to run your own verification.
Security reminder: for your own safety, only access Binance's official website. Don't share your login details, and don't use devices you don't trust.
Why is it so complicated to verify my assets with PoR?
We understand that PoR verification can seem technical. It relies on cryptography rather than a number we're asking you to believe, and the steps are there precisely so you don't have to rely solely on Binance's word. To make it easier, we've published a step-by-step guide here.
Why do I need to download the verification files to my computer?
You verify on your own devices so you can be sure you're running your own checks on your own machine.
The verifier is open source, and anyone can download and run it. We publish updates in a public GitHub repository, and the code has been independently audited. This allows the developer community and the general public to review the implementation for transparency.
Can PoR and zero-knowledge proofs be trusted?
Yes. Binance's Proof of Reserve uses a Merkle Tree system with zk-SNARKs (zero-knowledge succinct non-interactive arguments of knowledge).
The Merkle Tree allows each user to independently verify that the assets in their own account are included in the reserve snapshot.
For the snapshot taken on 2026-10-31 00:00 (UTC), the zk-SNARK proves that the reserves are backed at least 1:1, without revealing any particular user's balance.
Taken together, the result is cryptographically proven: you can confirm that your own assets are covered and included in the PoR snapshot we published, without exposing your balance or anyone else's.