Binance has completed a new zero-knowledge proof of reserves snapshot, giving users a way to check that their balances are backed one to one. According to The Block, holders of BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD or ZEC can verify their holdings against it.
The exchange said in a Monday update that it had replenished about 95% of the assets affected by the $6.3 billion hack using its own funds, while the remaining 5%, in less-liquid tokens, is still being acquired. Co-CEO Richard Teng wrote on X: “There’s still work to do, and we’ll continue to communicate our progress openly.”
Binance plans another snapshot on Wednesday covering more tokens, and co-CEO Yi He said the full zero-knowledge proof is expected to take 40 to 50 hours to generate after the snapshot. The exchange also expects to start gradually restoring withdrawals for more networks and assets on Tuesday. The figures come from Binance’s own statements and have not been independently audited in the sources reviewed.
Pressure on the exchange has eased somewhat. DeFiLlama data cited by The Block shows 24-hour net outflows fell to about $3.29 billion, more than 50% below a peak of around $7 billion. The next snapshot and the full proof will show whether the remaining gap closes on the timeline Binance has set.
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