OKXDiscount code
20% off eligible trading fees
OKX referral code: TRADEOFF20. Sign up with this code to get 20% off eligible trading fees.
Affiliate link. We may earn a commission, at no extra cost to you.
At a glance
- What changed
- Binance has finished the zero-knowledge proof for its 31 October Proof of Reserves snapshot, so users can verify that their balances in ten tokens are backed at least 1:1.
- Who it affects
- Binance users holding BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD or ZEC, and anyone following the exchange's recovery after the security incident.
- When
- Binance posted Recovery Update #5 at 12:49 UTC on Monday 2 November 2026 (13:49 in Amsterdam). The next snapshot is planned for 4 November.
The proof is complete
Binance has delivered the zero-knowledge Proof of Reserves it promised after its security incident. In Recovery Update #5, an article posted on its official X account at 12:49 UTC on Monday 2 November 2026 (13:49 in Amsterdam), the exchange said "the full zero-knowledge proof for this latest PoR snapshot has been completed within our estimated timeframe." In Update #3 on 31 October, Binance had estimated the proof would be ready by Tuesday 3 November.
The snapshot was taken at 00:00 UTC on 31 October 2026. Binance said users holding any of ten tokens, BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC, "can independently verify that their balances on Binance are backed at a minimum of 1:1" with the verifying tool on its Proof of Reserves website. These are the same ten tokens Binance earlier said it had replenished with its own funds and backs at 100%.
How the check works
According to Binance, its Proof of Reserves combines a Merkle Tree, which lets each user confirm that their own account assets are included in the snapshot, with a zk-SNARK, a type of zero-knowledge proof that shows reserves are at least 1:1 backed without revealing any individual balance.
To run the check, Binance says you need to log in to your Binance account and download the verifier tool from its Proof of Reserves website to your own computer. It says the verifier is open source, published in a public GitHub repository and independently audited, and it links a step-by-step guide on its support site. Binance also reminds users to access only its official website.
What comes next
Binance plans another snapshot "with coverage for more tokens" on 4 November 2026. It estimates the updated full zero-knowledge proof will take approximately 40 to 50 hours to complete because of the computational workload, which would put the next verifiable report around 6 November if that estimate holds.
The exchange repeated that it has covered approximately 95% of the impacted amount. The remaining 5% are tokens outside the top ten, which it describes as less liquid and slower to source at the required scale, and it says it is still working with industry partners on those purchases. Binance also said the next phase of withdrawals for additional networks and assets is planned for tomorrow, which is 3 November, as a progressive rollout with details to follow. It closed by restating that Binance, not its users, will absorb the financial impact of the stolen funds.
As with every update in this incident, use only the Binance app or Binance's own website to verify balances or check withdrawals, and treat links, files or "support" offers sent in replies or private messages with suspicion.
Dates to know
As announced by the provider. A listed date does not confirm current availability or eligibility.
- Binance takes a new Proof of Reserves snapshot at 00:00 UTCDate passed
- Zero-knowledge proof for the 31 October snapshot completed; users can verifyToday (UTC)
- Binance plans another snapshot covering more tokensUpcoming date
PhantomPartner offer
10% of trading fees back for 3 months
Phantom referral code: findcodes. Sign up with this code to get 10% of trading fees back for 3 months.
Affiliate link. We may earn a commission, at no extra cost to you.
Conditions
New users who sign up in the Phantom mobile app with this code get 10% of their own eligible trading fees back for three months from signup. Codes apply only at mobile-app signup and cannot be added later. Rebates are paid in CASH to the Phantom Cash balance after a $1 minimum; ID verification may be required. Perps and prediction markets are not available in every region; program terms apply and Phantom may change rates or end the program. Perps are unavailable in the US, UK and US-sanctioned jurisdictions; prediction markets are unavailable in the US, UK, Germany and sanctioned jurisdictions. Program eligibility depends on jurisdiction under the referral terms.
The code and partner link have no expiry. Campaign dates, benefits and eligibility are separate and may change. Check the provider’s current terms before signing up.
