Security Incident | Recovery Update #5: October 31 PoR Snapshot Now Fully Verifiable by Users After ZK Proof Generation (November 2, 2026)

Hello, Binancians,
In Recovery Update #3, we confirmed that the affected assets were recovered using 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 Reserve (PoR) snapshot on October 31, 2026, at 00:00 (UTC) to provide an up-to-date view of assets for transparency.
The complete zero-knowledge proof for this latest PoR snapshot was completed within the timeframe we expected. Binance users who hold any of these ten tokens can independently verify that their balances on Binance are backed at least 1:1. Users can do so using the verification tool on our PoR website. Please see the instructions in our guide here.
We plan to take another snapshot covering more tokens on 04-11-2026. After that, we will generate an updated, complete zero-knowledge proof. We estimate this process will take around 40 to 50 hours to complete due to the computational workload.
As mentioned in Recovery Update #4, Binance has covered around 95% of the affected amount. The remaining 5% consists of tokens that are not among the top ten listed above. These assets are less liquid and take longer to acquire in the required quantities. We continue to work with industry partners to complete the acquisition of the remaining assets.
We are also working to resume withdrawals for additional networks and assets. The next phase is planned for tomorrow—this rollout will be gradual, and we will share 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 now generated, the portion of that commitment that is backed can now be publicly verified.
Thank you for your support!
The Binance Team
02-11-2026
Proof of Reserves Verification FAQ
Binance publishes Proof of Reserves (PoR) so users don't have to simply trust our statements. The public can learn more about PoR and how it cryptographically proves that user assets on Binance are backed at a minimum of 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 website to your computer so you can perform the verification yourself.
Security reminder: For your security, please only access official Binance websites. Do not share your login information or use devices you do not trust.
Why is verifying my assets with PoR so complicated?
We understand that PoR verification may seem technical. It relies on cryptography, not numbers you are asked to trust, and the steps are designed so you don't have to rely solely on Binance's statements. To make things easier, we have published a step-by-step guide here.
Why do I need to download the verification file to my computer?
You perform the verification on your own device so you can confirm that the checks you initiate are running on your own computer.
This verification tool is open source and can be downloaded and run by anyone. We publish updates in a public GitHub repository, and the code has been independently audited (see this link as an example). This allows the developer community and the wider public to review its implementation for transparency.
Are PoR and Zero-Knowledge Proofs reliable?
Yes. Binance Proof of Reserves uses a Merkle Tree system with zk-SNARKs (zero-knowledge succinct non-interactive arguments of knowledge).
Merkle Trees allow each user to independently verify that their own account assets are included in the reserve snapshot.
The zk-SNARK proves that, for the snapshot taken on 31-10-2026 at 00:00 (UTC), reserves are backed at a minimum of 1:1—without revealing any user's balance.
Overall, the results are cryptographically proven: you can confirm that your own assets are covered and included in the PoR snapshot we published, without revealing your balance or anyone else's.
Please note: There may be differences between this original English content and its translated version (which may have been generated by AI). If there are any differences, please refer to the original English version for the most accurate information.