Binance Publishes New Proof-of-Reserves Snapshot Following October Attack

TL;DR: Binance said on November 2 that it had completed a zero-knowledge proof-of-reserves procedure for a snapshot taken October 31, following the exchange’s late-October security incident. Proof of reserves should not be described as a full financial audit, a guarantee against losses or evidence that all stolen assets have been returned. In the aftermath of a major exploit, balance verification and service recovery are parallel tasks. Reserve attestations may restore visibility, while withdrawal readbacks show that the platform can operate. Neither should substitute for a full account of the breach. Reading the three separately makes it harder for one reassuring number to obscure unresolved questions.

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