Binance has refreshed the wallet addresses listed in its Proof of Reserves (PoR) system and says all exchange withdrawals will be processed through the newly designated addresses going forward.

The update is part of the exchange’s Recovery Update #3, following a hot-wallet breach — an attack on the internet-connected wallets exchanges rely on to process day-to-day withdrawals — that Binance said drained approximately $6.3 billion between October 29 and 30, 2026. The exchange said the measure is intended to demonstrate that assets backing customer balances remain available and that the systems used to process withdrawals have been rebuilt.

Updated reserves and verification plans

A Proof-of-Reserves program publishes wallet addresses holding customer assets, allowing users to compare the reported balances with on-chain data and the assets owed to customers. Proof-of-reserves reports became a widespread industry practice after the collapse of FTX in late 2022. Binance’s updated PoR page now allows users to download the complete address list.

The exchange completed a new reserve snapshot on October 31, 2026, at 00:00 UTC. Binance reported that ten major assets had reserve backing above 100%. Bitcoin reserves were listed at 100.04%, while BNB, Binance’s native token, was reported at 101.30%.

Binance also said a full zk-SNARKs proof is expected by November 3, 2026. Address lists alone show where assets are held, but they do not demonstrate that those holdings cover all customer liabilities — a gap the zero-knowledge cryptographic proof is designed to close by allowing users to independently verify that their individual balances are included in the reported reserves.

Recovery allocation and withdrawal plans

Binance said it allocated more than $6.34 billion, primarily from corporate resources, to replenish assets affected by the breach. According to the exchange, the allocation has restored nearly 90% of the affected assets, an increase from the previous recovery update.

Withdrawals were paused while Binance conducted security reviews. They were expected to resume on November 1, with funds to be transferred from the newly designated PoR addresses once withdrawals reopened.

Co-CEO Richard Teng and other Binance 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 can verify

Binance customers can monitor whether withdrawals resume on November 1 as anticipated and whether the zk-SNARKs proof is released by its November 3 target date.

The downloadable wallet list gives users a way to compare Binance’s published reserve balances with on-chain records rather than relying solely on the exchange’s statements. However, the reported Bitcoin reserve ratio of 100.04% leaves limited room between the listed reserves and customer liabilities, while the replenishment was described as nearly 90% complete in the latest update.

Until withdrawals operate normally from the new addresses and the cryptographic proof is published, Binance’s recovery process remains ongoing. The original report was published by CryptoBriefing.