Binance Completes Proof of Reserves Amid 95% Recovery from Major Hack
Binance has completed a new Proof of Reserves verification and restored nearly all assets lost in a $6.3 billion hack.
Binance has completed a new Proof of Reserves verification and restored nearly all assets lost in a $6.3 billion hack. This is an original Token Times brief synthesising 3 outlets (CoinEdition, Crypto.news, Cryptopolitan), plus live market data, as of Tue, 03 Nov 2026 00:00:01 UTC.
This development demonstrates Binance's commitment to transparency and financial stability after a historic security breach, while also providing users with independent verification of their asset security.
- Binance completed a new zero-knowledge Proof of Reserves verification for 10 major cryptocurrencies.
- The exchange has restored approximately 95% of the $6.3 billion stolen in the October 29 hack.
- Users can independently verify that their holdings are fully backed through the Proof of Reserves system.
CoinEdition and Crypto.news both report that Binance has completed a new Proof of Reserves verification for ten major cryptocurrencies, allowing users to independently confirm their holdings are fully backed. They agree that the exchange has recovered about 95% of the assets lost in the $6.3 billion hack on October 29. However, Crypto.news provides the specific date of the hack (October 29) while CoinEdition does not, and CoinEdition emphasizes that the recovery was achieved using Binance's own funds.
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- Binance Completes Proof of Reserves Amid 95% Recovery from Major Hack — this brief
Binance has completed a new Proof of Reserves verification process, providing users with independent confirmation that their cryptocurrency holdings are fully backed. This comes in the wake of a major security breach that resulted in the loss of $6.3 billion in assets.
The latest verification, which utilizes zero-knowledge technology, covers ten major cryptocurrencies and allows eligible users to verify that their assets are secured at a 1:1 ratio. This move is part of Binance's ongoing efforts to enhance transparency and rebuild trust after the significant hack.
Multiple outlets report that Binance has successfully recovered approximately 95% of the stolen assets, with CoinEdition noting that the recovery was achieved using the exchange's own funds. This represents a significant step in the exchange's recovery process following the October 29 hack.
The Proof of Reserves system is designed to provide users with a way to independently verify the security of their assets, which is particularly important in the aftermath of a major security incident. This system is part of a broader trend in the cryptocurrency industry towards greater transparency and accountability.
In the current market context, with the total crypto market cap at $2.65 trillion and 
Bitcoin trading down 1.36% over the past 24 hours, Binance's actions could help stabilize investor confidence. The overall market sentiment, as indicated by the Fear & Greed index at 37 (Fear), suggests that investor confidence remains fragile.
Binance Completes Proof of Reserves Amid 95% Recovery from M — questions & answers
What is Binance's Proof of Reserves system?
It is a verification process that allows users to independently confirm their cryptocurrency holdings are fully backed.
How much of the stolen assets has Binance recovered?
Approximately 95% of the $6.3 billion lost in the October 29 hack has been recovered.
How many cryptocurrencies are covered by the latest Proof of Reserves verification?
The verification covers ten major cryptocurrencies.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from CoinEdition, Crypto.news, Cryptopolitan, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.