Binance has finished the zero-knowledge proof on the reserves snapshot taken at 00:00 UTC on 31 October. Holders of bitcoin, ether, USDT and BNB can check that backing themselves, and so can holders of solana, USDC, XRP, USD1, RLUSD and ZEC. Recovery Update #5 says the floor on that check is at least one-to-one.
A proof of reserves lines up the coins a venue says it controls with the total credited to customers. The zero-knowledge proof is the long file behind that lineup. It lets a holder test that their own balance is inside that total, while other customers’ balances stay hidden.
The test runs on the checker at the proof-of-reserves page. The verification guide has the steps. For a token on the list, the file answers a direct question. If the snapshot credited customers with a given pile of USDT, the reserve side has to show at least that same pile. One-to-one here is a count of coins. The same question applies to each of the other nine.
Binance points to Recovery Update #3, which said those ten had been filled back in with company money and were matched in full. In that update, matched in full means 100% on each of the ten. The coins set aside equalled the customer total for that token.
Binance took the 31 October snapshot to put an updated view of the assets on the public record. A snapshot of this kind holds the books at one hour, with later transfers outside it.
The theft and the first reopening of withdrawals are in Sunday’s report.
Ten tokens in the finished proof
Bitcoin, ether, BNB, solana, XRP and ZEC are on the list beside USDT, USDC, USD1 and RLUSD. USDT and USDC are the large dollar stablecoins. In this update, the one-to-one reading covers that set of ten.
The exchange says the proof finished inside the window it had already set.
Replacement coins, about 95%
The impacted amount is the customer backing left without matching coins after the theft. Binance still puts the covered share of that amount at about 95%. The figure counts coins bought as replacements, not coins recovered from the attacker.
The 100% figure above is the match on each of the ten tokens. The 95% is how much of the whole impacted amount has been replaced so far.
The open share is about 5%. Those tokens are the ones left off the ten, the exchange says, and the markets in them are thinner, so buying the quantity required takes longer. The purchases are still being lined up with partners in the industry.
Binance says the company bears the cost of the stolen funds. The new proof lets a holder test, in public, the part of that promise that already has coins behind it.
Snapshot set for 4 November
Binance plans another snapshot on 4 November, with more tokens than the ten in this file. A new full zero-knowledge proof comes after that cut. The estimate for that next proof is roughly 40 to 50 hours of computing, because the calculation is heavy. Those hours start once the build starts, after the 4 November snapshot is taken. Until that later file is up, the check a customer can run is the 31 October snapshot, and only for those ten names.
Withdrawals planned for 3 November
Further networks and further assets are being prepared for withdrawals. Binance says the next phase is planned for 3 November, as a staged return, and that the details will come when they are ready. This update names no chain and no extra token for that day. One route in the phase can open while another is still closed.
A reserves check and an open withdrawal are separate facts. Passing the proof means the 31 October file supports the balance. Coins move on a route again only after that route has been switched back on.
