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AI summary of a third-party reportBearishNewsDesk

Binance tracked assets fall $16.6bn since hack as reserve proof slips to 3 Nov

DefiLlama data shows Binance's tracked assets dropped from $145bn on 29 Oct to about $128bn on 2 Nov. Its full zero-knowledge proof of reserves, promised for 2 Nov, is now due by 3 Nov.

InvestIn.News NewsDesk · 1 min read
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Picture from Bitcoin.com News for: Binance tracked assets fall $16.6bn since hack as reserve proof slips to 3 Nov
Image: Bitcoin.com News
Original reporting: Shiraz Jagati, Bitcoin.com News

Key points

  • Binance's tracked assets fell from $145bn on 29 Oct to roughly $128bn on 2 Nov, a drop of about $16.6bn, according to DefiLlama.
  • The full zero-knowledge proof of reserves is now due by 3 Nov UTC, after 40 to 50 hours of computation, a day later than co-CEO Richard Teng had indicated.

Binance's tracked assets have fallen by about $16.6bn since the 29 Oct hack, according to DefiLlama data cited by Bitcoin.com News. The analytics platform put the exchange's tracked assets at roughly $128bn early on 2 Nov, down from about $145bn on 29 Oct, a decline of nearly 12%.

The figure reflects falling crypto prices and the roughly $6.3bn the attackers took from hot wallets as well as withdrawals. A screenshot showed $5.95bn in net outflows over 24 hours.

Critics said hundreds of tokens remain locked.

Co-CEO Richard Teng had said the full proof of reserves would be published by 2 Nov. Binance's third recovery update moved it to 3 Nov UTC, citing 40 to 50 hours of computation for the zero-knowledge proof. The only public reserve data is a 31 Oct snapshot, taken before the withdrawal wave.

What to watch: Binance says its full zero-knowledge proof of reserves is due by 3 Nov UTC, the same day as the US midterm elections.

Read the full story on Bitcoin.com News

Live updates on NewsFeeds:AltcoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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