Binance Releases First Major Reserve Report After Hack! How Much Bitcoin, Ethereum, XRP, and Altcoin Does It Hold? Has the $6.3 Billion Gap Been... - Cryptonews.net
Binance has fully recovered the $6.34 billion in crypto assets stolen in a historic October hack and released a new proof-of-reserve report showing all user balances are backed 1:1.
Binance released a comprehensive new proof-of-reserve snapshot on November 12th, stating that all user balances on the platform are backed at a 1:1 ratio, with reserve ratios exceeding 100% for many assets.
The exchange’s reserve ratios remain above 100% for all major assets, including Bitcoin, Ethereum, USDT, BNB, Solana, USDC, and a wide range of other altcoins.
Recovery of Stolen Assets
Unlike its classic monthly reserve report, Binance released this additional report following the October 29 hack involving approximately $6.34 billion in crypto assets.
The exchange stated that it has fully completed the recovery of affected assets.
Holdings Update
User Bitcoin holdings increased by 0.35% from November 4th, reaching approximately 687,900 BTC, representing an increase of 2,388 BTC.
$ETH holdings also increased by 1.04% to 3.48 million ETH, while $USDT holdings decreased by 3.68% to 24.3 billion tokens, resulting in a loss of 928 million USDT.
$BNB holdings increased by 1.03% to 42.95 million tokens.
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