News · Security & Hacks
The cryptographic audit covers Bitcoin, Ethereum, and eight other assets, with Binance pledging over $6.34 billion to cover all user balances.
Key point 1 of 3
01
Binance issued zero-knowledge reserve proofs confirming at least 1:1 backing for 10 core assets following an Oct. 31 snapshot.
Key point 2 of 3
02
The exchange committed more than $6.34 billion from corporate funds and its SAFU reserve to fully cover balances after an Oct. 29 heist.
Key point 3 of 3
03
Roughly $3 billion of the stolen capital was frozen onchain by partners, with the next token reserve snapshot scheduled for Nov. 4.
Context
Attackers drained $6.3 billion on Oct. 29, penetrating Binance's internal signing architecture in one of the largest security failures in digital asset history.
Why it matters
Depositors holding the 10 audited assets can verify full backing independently, while Binance absorbs the multi-billion-dollar balance sheet hit using SAFU and treasury reserves.
What to watch
The planned deployment of additional network withdrawal routes on Nov. 3 and the subsequent multi-token reserve snapshot scheduled for Nov. 4.
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