Post-incident update: Binance shares latest progress on asset replenishment and Proof of Reserves
Three key takeaways:
1. Approximately 98% of the stolen assets have been replenished. The remaining 2% will continue to be purchased in batches through market and over-the-counter channels, as the relevant tokens have limited liquidity. This is expected to take some time. Binance will cover all losses with its own funds and has already set aside funds exceeding 100% of the total assets required. User assets will not be affected.
2. The snapshot for the latest Proof of Reserves round was completed on November 4 at 8:00, expanding coverage from 10 tokens in the previous round to 44. Generating the full zero-knowledge proof is expected to take 50 to 60 hours. Once it is ready, users holding tokens within the covered range will be able to independently verify whether their account balances are backed by reserves of at least 1:1.
3. More important than “how much was lost” is that verification power is being returned to users. The snapshot now covers significantly more assets, and the zero-knowledge proof lets everyone verify for themselves—both carry more weight than a verbal promise.
Incidents happen; what matters is having the courage to lay the books open for scrutiny. The remaining 2% replenishment and the official release of the PoR report are worth keeping an eye on.
#币安 #储备金证明 #Web3Security
Three key takeaways:
1. Approximately 98% of the stolen assets have been replenished. The remaining 2% will continue to be purchased in batches through market and over-the-counter channels, as the relevant tokens have limited liquidity. This is expected to take some time. Binance will cover all losses with its own funds and has already set aside funds exceeding 100% of the total assets required. User assets will not be affected.
2. The snapshot for the latest Proof of Reserves round was completed on November 4 at 8:00, expanding coverage from 10 tokens in the previous round to 44. Generating the full zero-knowledge proof is expected to take 50 to 60 hours. Once it is ready, users holding tokens within the covered range will be able to independently verify whether their account balances are backed by reserves of at least 1:1.
3. More important than “how much was lost” is that verification power is being returned to users. The snapshot now covers significantly more assets, and the zero-knowledge proof lets everyone verify for themselves—both carry more weight than a verbal promise.
Incidents happen; what matters is having the courage to lay the books open for scrutiny. The remaining 2% replenishment and the official release of the PoR report are worth keeping an eye on.
#币安 #储备金证明 #Web3Security