Binance Inside Job Theories Explode Ahead of Monday’s Reserve Reports

Claims that the $6.3 billion Binance hack was an inside job are spreading across X as the exchange holds back its proof-of-reserves results until Monday, Nov. 2. The doubts center on the order of events, as in its Oct. 30 update, Binance said it had covered about 80% of the stolen assets and was still buying the remaining 20%. It planned an initial proof-of-reserves snapshot within 12 hours, with results ready by Monday, Nov. 2. A proof-of-reserves report is meant to show that an exchange holds enough assets to back every customer balance, but critics argue that running it after the buyback hides how big the gap was in the first place.

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