Binance Releases Latest Proof of Reserves, Claims User Assets Fully Backed at 1:1 Ratio

PANews, November 6 - Binance announced that the zero-knowledge proof (ZKProof) for its latest Proof of Reserves (PoR) is now live, allowing users to independently verify that their asset balances on Binance are backed by reserves at a minimum 1:1 ratio. Previously, on November 4, Binance released its 7th recovery update on the security incident, stating that 98% of stolen assets have been covered, and launched an expanded new PoR snapshot, while also noting that losses from the stolen funds are borne by Binance, not users, and that funds exceeding 100% of the required amount have been reserved.