Photo: Gage Skidmore, Wikimedia Commons, CC BY-SA 3.0.
Cryptocurrency exchange Binance said on Monday, November 2, that users holding any of the ten largest tokens on the platform can now independently verify that their balances are backed at least 1:1, after the exchange completed the zero-knowledge proof for its October 31 proof-of-reserves snapshot.
The proof covers Bitcoin, Ether, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC. Binance said it has covered about 95% of the amount affected by last week’s theft, with the remaining 5% consisting of less-liquid tokens it is still acquiring. A wider snapshot covering more tokens is planned for Wednesday, November 4, and the next phase of withdrawal resumptions is planned for Tuesday, the exchange said.
Bitcoin traded near $77,500 on Monday morning, down slightly over the past 24 hours, Coinbase data show. Ether traded near $2,274, up slightly. Binance resumed phased withdrawals on Sunday, after what the exchange has described as a security incident in which attackers stole assets. Binance has said it will absorb the financial impact of the stolen funds itself, not its users.
JBizNews Desk | New York
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