Binance has refreshed its Proof of Reserves wallet list, and the exchange says every withdrawal will be processed from the newly listed addresses. The change is part of a recovery effort after a breach that drained approximately $6.3 billion from Binance’s hot wallets between Oct. 29 and Oct. 30, 2026.
Binance labeled the wallet update as part of its Recovery Update #3, describing it as the latest step to show customers that the assets backing their balances remain available and that the infrastructure moving those funds has been rebuilt.
Updated reserves snapshot
A Proof of Reserves program publishes wallet addresses holding customer assets so balances can be checked on-chain against what users are owed. Binance’s updated page now allows customers to download the full address list.
Binance completed a new reserve snapshot on Oct. 31, 2026, at 00:00 UTC. According to its figures, ten major assets showed reserve backing above 100%. Bitcoin was reported at 100.04%, while BNB, the exchange’s native token, was reported at 101.30%.
Binance also says a full zk-SNARKs proof is expected by Nov. 3, 2026. That cryptographic proof would allow users to independently verify that their own balances are included in the reserves.
Recovery funding and withdrawals
The exchange allocated more than $6.34 billion, drawn primarily from corporate resources, to replenish assets affected by the breach. Binance says that allocation has restored nearly 90% of the affected assets, up from its previous recovery update.
Withdrawals were paused while the exchange carried out security reviews. They are anticipated to resume on Nov. 1, and when they do, funds will leave from the newly designated Proof of Reserves addresses.
Co-CEO Richard Teng and other executives have reaffirmed that customer funds were not lost. They also said the company is absorbing the full impact of the incident on its own balance sheet.
What users should watch
For Binance customers, the near-term checklist is short: whether withdrawals actually resume on Nov. 1 as anticipated, and whether the zk-SNARKs proof arrives by its Nov. 3 target.
Users who want to verify the exchange themselves now have the tools. The downloadable address list allows anyone to compare published balances with on-chain data rather than relying solely on the exchange’s statements.
The risks remain clear. Ratios such as 100.04% for Bitcoin leave little room for error, and the replenishment was described as nearly 90% complete as of the latest update. Until withdrawals run smoothly from the new addresses and the cryptographic proof is published, the recovery remains a work in progress rather than a finished job.
