Binance Plans Wider Reserve Checks After Cyberattack

TLDR Binance has completed a zero-knowledge proof for its October 31 reserves snapshot. Users can independently verify that ten cryptocurrencies have reserve backing of at least 1:1. Binance said it has replaced approximately 95% of the assets affected by the October 29 hack. The exchange continues acquiring less-liquid tokens to replace the remaining 5% of affected assets. Binance plans another reserves snapshot on November 4, with verification expected within 40 to 50 hours. Binance said Monday that users can now verify reserves for ten cryptocurrencies after the exchange completed a new zero-knowledge proof. The update follows an October 29 cyberattack that drained more than $6 billion from its wallets. Binance Opens New Reserve Checks The proof covers BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinCentral.