Binance Publishes Zero-Knowledge Reserve Proof for BTC, ETH and 8 Other Tokens After Hack

Binance said on Nov. 2 that it has finished the full zero-knowledge proof for its Oct. 31 proof-of-reserves snapshot, so anyone holding one of 10 tokens on the exchange can now check that their balance is backed at least 1:1. The proof covers BNB, BTC, ETH, RLUSD, SOL, USD1, USDC, USDT, XRP and ZEC. Binance took the snapshot at 00:00 UTC on Oct. 31 , two days after attackers drained over $6.3 billion from its hot wallets on Oct. 29. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . How Users Check Their Balance Binance’s system pairs a Merkle tree , which shows a user their own account was counted in the snapshot, with a zk-SNARK , which proves total reserves cover what users are…

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