Security Incident | Recovery Update No. 5: The October 31 PoR snapshot is now fully verifiable by users as a generated ZK proof (November 2, 2026).
In Recovery Update No. 3, we confirmed that the affected assets were replenished with Binance’s own funds and that all BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are fully backed at 100%. We also took a new Proof of Reserves (PoR) snapshot on October 31, 2026, at 00:00 (UTC) to provide an up-to-date view of assets and ensure 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 of 1:1. To do so, they can use the verification tool on our PoR website. See the instructions in our guide here.
We plan to take another snapshot with coverage for more tokens on November 4, 2026. We will then generate an updated full zero-knowledge proof, a process we estimate will take between 40 and 50 hours due to the computational load.
As stated in Recovery Update No. 4, Binance has covered approximately 95% of the affected amount. The remaining 5% corresponds to tokens that are not among the top ten mentioned above. These assets have lower liquidity, and acquiring them at the required scale takes more time. We continue to work with industry partners to complete the remaining acquisitions.
We are also working to resume withdrawals for additional networks and assets. The next phase is planned for tomorrow; it will be implemented gradually, and we will share the details when they are ready.
Our commitment remains unchanged: Binance will bear the financial impact of the stolen funds, not our users. With the proof generated, the backed portion of that commitment is now publicly verifiable.
Thank you for your support!
Binance Team
2026-11-02
Frequently Asked Questions About Verifying the Proof of Reserves
Binance publishes its Proof of Reserves (PoR) so users do not have to take our word for it. The public can learn more about PoR and how it cryptographically demonstrates that users' assets on Binance are backed by at least 1:1 here.
Users can learn how to verify their identity in our guide here.
Before you begin: You will need to log in to your Binance account and download the verification tool from the PoR website to your computer to perform your own verification.
Security reminder: For your own safety, access only the official Binance website. Do not share your login details or use devices you do not trust.
Why is it so complicated to verify my assets with PoR?
We understand that PoR verification can seem technical. It is based on cryptography, not on a number we ask you to trust, and the steps are there precisely so that you do not have to rely solely on Binance's word. To make the process easier, we have published a step-by-step guide here.
Why do I need to download the verification files to my computer?
You perform the checks on your own devices, so you can be sure that you are running your own verifications 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 (see the link for an example). This allows the developer community and the general public to review the implementation to ensure transparency.
Are Proof of Reserves (PoR) and zero-knowledge proofs reliable?
Yes. Binance's Proof of Reserves system uses a Merkle tree system with a zk-SNARK (zero-knowledge succinct non-interactive argument of knowledge).
The Merkle tree allows each user to independently verify that their account assets are included in the reserves snapshot.
The zk-SNARK proves that, for the snapshot taken on 2026-10-31 at 00:00 (UTC), the reserves are backed at a minimum ratio of 1:1, without revealing any individual 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 publish, without exposing your balance or anyone else's.
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