Binance Publishes New Proof-of-Reserves Snapshot Following October Attack

Binance completed a zero-knowledge proof-of-reserves procedure for an October 31 snapshot, published November 2, following the exchange's October attack. The disclosure covers user balances across major assets including bitcoin (BTC), ethereum (ETH), and tether (USDT), though the article does not specify reserve ratios or total liabilities. The move matters because proof-of-reserves reporting has become a key transparency benchmark for centralized exchanges since the 2022 FTX collapse, and Binance is the largest venue by trading volume. Watch for whether Binance publishes full liability figures and third-party attestations, and whether rival exchanges match the zero-knowledge format.