Binance is warning users to stay alert for recovery scams as phased withdrawals continue after the October 29 security incident.
In a November 2, 2026 security advisory, Binance said fraudsters may pose as staff offering to speed up pending withdrawals, sell "priority" queue access, process compensation claims, or move funds into a "secure wallet." Binance does not charge fees to unlock withdrawals, does not offer paid recovery services, and never asks users to approve wallet transactions to regain access. Fake proof-of-reserves sites and compensation links are also on the watchlist.
The same day, Binance completed the zero-knowledge proof for its October 31 reserve snapshot, covering ten assets including $BTC, ETH, BNB and four stablecoins at 1:1 or better. About 95% of affected assets have been replaced with company funds, and another snapshot is planned for November 4. Check withdrawal status only in the official app.
#Binance #CryptoSafety #ProofOfReserves
DYOR. Not financial advice.
In a November 2, 2026 security advisory, Binance said fraudsters may pose as staff offering to speed up pending withdrawals, sell "priority" queue access, process compensation claims, or move funds into a "secure wallet." Binance does not charge fees to unlock withdrawals, does not offer paid recovery services, and never asks users to approve wallet transactions to regain access. Fake proof-of-reserves sites and compensation links are also on the watchlist.
The same day, Binance completed the zero-knowledge proof for its October 31 reserve snapshot, covering ten assets including $BTC, ETH, BNB and four stablecoins at 1:1 or better. About 95% of affected assets have been replaced with company funds, and another snapshot is planned for November 4. Check withdrawal status only in the official app.
#Binance #CryptoSafety #ProofOfReserves
DYOR. Not financial advice.
