Binance proves it — 1:1 reserves are now 100% verifiable!
After the hack that resulted in $6.3 billion in losses, everyone asked one question: Is my money really there? Binance has just answered with numbers, not words.
On November 2, Binance completed the full zero-knowledge proof (zk-SNARK) for the Proof of Reserves snapshot, taken on October 31 at 00:00 UTC. You can now verify for yourself that your balances are backed at least 1:1.
10 tokens are now 100% backed and verifiable: $BTC and $ETH and $USDT and $BNB and $SOL and $USDC and $XRP and $USD1 and $RLUSD and $ZEC.
What most people don't know:
Binance uses two proofs: a Merkle tree to prove your account is included in the snapshot, and a zk-SNARK proof to prove that reserves ≥ liabilities, without revealing anyone's balance.
The open-source verification tool is on GitHub, has been independently audited, and you can run it on your own device — so there's no need to trust Binance's website.
Most importantly: 95% of the stolen amount is now covered (up from 90%). The remaining 5% consists of less liquid tokens, which take time to buy in large quantities. Binance said it would bear the loss, not users.
The next snapshot, which will include more tokens, is on November 4; preparing the proof takes 40–50 hours.
BTC$ $BNB $USDT
#verify1to1binancereserves Proof_of_Reserves #BinanceIsSAFU #zkProof #BinanceRecovery
After the hack that resulted in $6.3 billion in losses, everyone asked one question: Is my money really there? Binance has just answered with numbers, not words.
On November 2, Binance completed the full zero-knowledge proof (zk-SNARK) for the Proof of Reserves snapshot, taken on October 31 at 00:00 UTC. You can now verify for yourself that your balances are backed at least 1:1.
10 tokens are now 100% backed and verifiable: $BTC and $ETH and $USDT and $BNB and $SOL and $USDC and $XRP and $USD1 and $RLUSD and $ZEC.
What most people don't know:
Binance uses two proofs: a Merkle tree to prove your account is included in the snapshot, and a zk-SNARK proof to prove that reserves ≥ liabilities, without revealing anyone's balance.
The open-source verification tool is on GitHub, has been independently audited, and you can run it on your own device — so there's no need to trust Binance's website.
Most importantly: 95% of the stolen amount is now covered (up from 90%). The remaining 5% consists of less liquid tokens, which take time to buy in large quantities. Binance said it would bear the loss, not users.
The next snapshot, which will include more tokens, is on November 4; preparing the proof takes 40–50 hours.
BTC$ $BNB $USDT
#verify1to1binancereserves Proof_of_Reserves #BinanceIsSAFU #zkProof #BinanceRecovery
