Security Incident | Recovery Update #5: Users Can Now Fully Verify the October 31 Proof of Reserves Snapshot After ZK Proof Generation (November 2, 2026)

Dear Binance Community,
In Recovery Update #3, we confirmed that the affected assets had been replenished with Binance funds and that BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are all 100% backed. We also took a new Proof of Reserves (PoR) snapshot at 07:00 on October 31, 2026 (Vietnam Time) to provide an updated view of assets and increase transparency.
The full zero-knowledge proof for this latest PoR snapshot has been completed within the estimated timeframe. Binance users holding any of these ten tokens can independently verify that their balances on Binance are backed at a minimum 1:1 ratio. Users can do this using the verification tool on our PoR page. Please see the instructions in this guide.
We expect to take another snapshot that includes more tokens on November 4, 2026. We will then generate an updated full zero-knowledge proof. We estimate that this process will take approximately 40 to 50 hours to complete due to the computational workload.
As stated in Recovery Update #4, Binance has covered approximately 95% of the affected amount. The remaining 5% consists of tokens that are not among the top ten tokens listed above. These assets are less liquid and require more time to acquire in the necessary quantities. We continue to work with industry partners to complete the purchase of the remaining assets.
We are also working to restore withdrawals for additional networks and assets. The next phase is expected to take place tomorrow. This will be a gradual rollout, and we will share details when they are available.
Our commitment remains unchanged: Binance, not users, will bear the financial impact of the stolen funds. Now that the proof has been generated, the backing commitment can be publicly verified.
Thank you for your support!
The Binance Team
November 2, 2026
Frequently Asked Questions About Verifying Proof of Reserves
Binance publishes Proof of Reserves (PoR) so users don’t have to take our word for it. The public can learn more about PoR and how it uses cryptography to prove that users’ assets on Binance are backed at a minimum 1:1 ratio here.
Users can learn how to verify in our guide.
Before you begin: You need to log in to your Binance account and download the verification tool from the PoR website to your computer to perform the verification yourself.
Security reminder: To keep yourself safe, please visit only the official Binance website. Do not share your login credentials or use devices you do not trust.
Why is verifying my assets with PoR so complicated?
We understand that PoR verification may seem technically complicated. The process relies on cryptography rather than a number we ask you to trust. These steps exist precisely so that you don’t have to rely solely on Binance’s word. To make the process simpler, we have published a step-by-step guide here.
Why do I need to download the verification files to my computer?
You verify on your own device to ensure that you are performing the checks yourself on your own computer.
The verification tool is open source, and anyone can download and run it. We publish updates in the public GitHub repository, and the source code has been independently audited (for example, in this link). This allows the developer community and the general public to inspect the implementation, increasing transparency.
Are Proof of Reserves and zero-knowledge proofs trustworthy?
Yes. Binance Proof of Reserves uses a Merkle Tree system together with zk-SNARKs (zero-knowledge succinct non-interactive arguments of knowledge).
Merkle TreeMerkle Trees allow each user to independently verify that the assets in their account are included in the reserves snapshot.
zk-SNARKs prove that reserves are backed at a minimum 1:1 ratio for the snapshot taken at 07:00 on October 31, 2026 (Vietnam Time), without revealing the balance of any individual user.
Overall, the result is cryptographically proven: you can confirm that your assets are backed and included in the PoR snapshot we published without revealing your balance or anyone else’s.
Please note: There may be differences between the original English content and any translated versions (which may be generated by AI). In case of any discrepancies, please refer to the original English version for the most accurate information.