Binance Completes Reserve Proof as Asset Replenishment Reaches 95%

Binance said about 95% of assets affected by a security incident have been replenished and that it plans to resume withdrawals across additional networks and assets in stages Nov. 3.

The completed zero-knowledge proof applies to a proof-of-reserves snapshot taken at 8 p.m. ET Oct. 30 (Oct. 31 at 00:00 UTC). Holders of 10 supported assets, including Bitcoin (BTC) and Ether (ETH), can use Binance's tool to verify whether balances have at least 1:1 reserve backing.

Binance said the remaining roughly 5% consists of lower-liquidity tokens outside the top 10, which will take longer to buy. Binance also said it, rather than users, will bear losses from the stolen funds.

A new snapshot covering more tokens is planned for Nov. 4. Generating the full zero-knowledge proof is expected to take about 40 to 50 hours.