Binance Says the Proof for Its 31 October Reserves Snapshot Is Complete and Users Can Now Verify Their Balances Are Backed
Binance said at 12:45 UTC on 2 November that the full zero-knowledge proof for its reserves snapshot of 00:00 UTC on 31 October is complete, and that users holding any of ten tokens, bitcoin among them, can verify with its tool that their balances are backed at a minimum of 1:1. Its reserves page gives 692,186.737 BTC in net account balances against 692,488.864 BTC in on-chain wallets, 10,824.153 BTC of it in third-party custody, at block 973,895, a ratio of 100.04 percent, under Merkle root 169dd7e2300fabd4f7a8d11d745fe24f4c31ae1ccac6c4391fbd47b548740ad0. Those are Binance's figures. Verifying takes a Binance login and a tool downloaded from its site, and the Gazette has not run it. Binance put the theft of 29 October at about $6.3 billion and says it has covered about 95 percent of that, the rest being tokens outside the ten. The FBI said on 31 October that North Korea was responsible. Binance said on X that withdrawals began to resume in phases at 06:00 UTC on 1 November. It plans the next phase for 3 November and another snapshot on 4 November.
Sources:binance.com