Binance Completes Zero-Knowledge Proof of Reserves After Covering 95% of Record $6.3 Billion Hack Losses
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Binance users can now verify 1:1 backing for BTC, ETH and other major assets after the exchange covered 95% of losses from the $6.3B hack. Binance has completed a zero-knowledge proof of reserves for ten major assets, allowing customers to independently confirm that their balances remain fully backed after the exchange covered the bulk of losses from the largest cryptocurrency hack on record. In its Recovery Update #5 published Monday, the exchange said the cryptographic proof for the Oct. 31 snapshot is now available, covering bitcoin, ether, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC.
Source: Cryptopress
