Binance Launches Zero-Knowledge Checks for 1:1 Reserve Backing

Binance has launched zero-knowledge proof verification for its latest proof-of-reserves (PoR) snapshot, giving users a way to check whether account balances on the exchange have at least 1:1 reserve backing.

The verification applies to each user’s own assets, Binance said. At a 1:1 ratio, the reserves backing an account balance are at least equal to the balance being checked. Binance said the new proof lets customers confirm that relationship directly.

The release follows the exchange’s Nov. 4 update on the seventh stage of recovery work tied to a security incident. Binance released an expanded PoR snapshot as part of that update and said 98% of stolen assets had been covered.

Binance also said it would absorb losses from the stolen funds rather than pass them to customers. It said it had already secured more than 100% of the amount needed to cover those losses. The latest feature gives users a way to check their own backing in the context of the expanded reserve disclosure.