Binance completes reserve proof for 10 tokens after $6.3B hack

Binance has completed its latest zero-knowledge Proof of Reserves verification for ten major cryptocurrencies following the $6.3 billion hack on October 29, allowing users to independently check that their holdings are fully backed. Summary Binance has completed its zero knowledge Proof of Reserves verification for 10 major cryptocurrencies, allowing users to independently confirm that their balances are backed by reserves of at least 1:1. The exchange has replenished approximately 95% of the assets affected by the October 29 hack, while the remaining 5% consists of less liquid tokens that are taking longer to acquire. Binance plans to take another reserve snapshot on November 4 covering additional cryptocurrencies, with the accompanying cryptographic proof expected to take 40 to 50 hours to complete. Withdrawals are scheduled to resume across more blockchain networks and assets from November 3, although Binance has yet to announce the complete list of supported tokens and activation times. In a November 2 recovery update, the exchange confirmed that the cryptographic proof for its October 31 reserve snapshot was ready, ahead of its previously estimated November 3 completion date. ...