Binance completes latest proof of reserves after record hack
BROBROK News · Based on reporting by The Block ·
Binance said it has completed a new proof of reserves while it works to restore assets and withdrawals after a large-scale hack. According to the available summary, users can independently verify 1:1 backing for several assets, including BTC, ETH, BNB, SOL and XRP. The exchange is also said to have replenished most of the assets lost in the incident.
Key points
- Users can independently verify 1:1 backing on Binance.
- The reserve check covers BTC, ETH, BNB, SOL, XRP and more.
- Binance is restoring assets and withdrawals after a major hack.
- The feed summary says about 95% of lost assets have been replenished.
Why it matters
Proof-of-reserves updates are closely watched when an exchange faces security stress because they help show whether customer balances are backed. The incident also keeps the focus on custody, withdrawal access and operational transparency.
Original headline: “Binance completes latest proof of reserves as it works to restore assets, withdrawals after record hack”
Read the original on The Block
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.