Security Incident | Recovery Update No. 5: The October 31 Proof of Reserves Snapshot Is Now Fully Available for User Verification Following ZK Proof Generation (November 2, 2026)

Dear Binance community members,
In the Recovery Update No. 3, we confirmed that the affected assets had been replenished using Binance’s own funds and that all BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC were fully backed at 100%. We also took a new snapshot of the Proof of Reserves (PoR) as of October 31, 2026, 00:00 (UTC), to provide updated asset information for transparency.
The full zero-knowledge proof for this latest PoR snapshot was generated within the expected timeframe. Binance users who hold any of these ten tokens can independently verify that their balances on Binance are backed at least 1:1. To do so, users can use the verification tool on our PoR website. Instructions are available in our guide here.
We plan to take another snapshot covering more tokens on 04.11.2026. We will then create an updated full zero-knowledge proof. We estimate that generating it will take approximately 40 to 50 hours due to the computational workload.
As noted in Recovery Update No. 4, Binance has covered approximately 95% of the affected amount. The remaining 5% consists of tokens that are not among the ten largest assets listed above. These assets are less liquid, so acquiring them in the required quantities takes more time. We continue to work with industry representatives 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 and will be rolled out in stages. We will share details as soon as everything is ready.
Our commitment remains unchanged: Binance will bear the financial consequences of the theft, not our users. Thanks to the proof we have created, the backed portion of this commitment can now be publicly verified.
The Binance Wallet Team!
The Binance Team
02.11.2026
Frequently Asked Questions About Verifying Proof of Reserves
Binance publishes Proof of Reserves (PoR) so users don’t have to simply take our word for it. Learn more about PoR and how cryptography is used to verify that user assets on Binance are backed at least 1:1 here.
Learn how to verify your assets in our guide here.
Before you begin: You’ll need to log in to your Binance account and download the verification tool from the PoR website to your computer so you can complete the verification yourself.
Security reminder: For your safety, use only the official Binance website. Do not share your login credentials or use untrusted devices.
Why is verifying my assets using PoR so complicated?
We understand that verifying PoR can seem technically complex. It relies on cryptography, rather than a figure we ask you to take on trust. These steps are specifically designed so you don’t have to rely solely on Binance’s word. To make the process easier, we’ve published a step-by-step guide here. 
Why do I need to download verification files to my computer?
You perform the verification on your own device to confirm that you are carrying it out yourself on your computer.
The verification tool is open source, and any user can download and run it. We publish updates in a public GitHub repository, and the code has undergone an independent audit (for example, see the link). This allows the developer community and the general public to review the implementation for transparency.
Are PoR and zero-knowledge proofs reliable?
Yes. Binance’s Proof of Reserves (PoR) is based on a Merkle tree system that uses zk-SNARKs (zero-knowledge succinct non-interactive arguments of knowledge).
The Merkle tree system allows each user to independently verify that their account assets are included in the snapshot of reserves.
The zk-SNARK proof confirms that reserves were backed at least 1:1 for the snapshot taken on 31.10.2026 at 00:00 (UTC)—without disclosing any individual user’s balance.
This means the result is cryptographically verified: you can confirm that your assets are backed and included in the PoR snapshot we publish, without disclosing your balance or anyone else’s.
Please note: there may be discrepancies between this original English content and any translated versions (which may be generated using AI). In the event of any discrepancies, please refer to the original English version for the most accurate information.
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