Binance, one of the world’s largest cryptocurrency exchanges, suffered a $6.3 billion cyberattack in late October. It has been described as the largest hack in cryptocurrency history. Binance has now released an updated reserve report.
Binance said it had completed recovering the $6.34 billion in assets stolen in the hack.
On November 12th, Binance released a comprehensive new proof-of-reserves snapshot, saying that all user balances on the platform are backed at a 1:1 ratio. Reserve ratios exceed 100% for many assets.
The report covers Bitcoin, Ethereum, $USDT, $BNB, Solana, USDC, WBETH, CAKE, AAVE, XAUT, Bitcoin Cash (BCH), WLFI, RLUSD, HBAR, WLD, FET, DOT, Arbitrum (ARB), MORPHO, HOT, GALA, CHZ and many other altcoins, including ARKM, JASMY, GRT, APE, SAND, SYRUP, MANA, 1INCH, ENJ, SSV, MASK and BUSD.
According to the report, the exchange’s reserve ratios remain above 100% for all major assets.
User $BTC holdings rose 0.35% from November 4th to approximately 687,900 $BTC, an increase of 2,388 $BTC. $ETH holdings also rose 1.04% to 3.48 million $ETH, while $USDT holdings fell 3.68% to 24.3 billion tokens, a decrease of 928 million $USDT. $BNB holdings rose 1.03% to 42.95 million tokens.
Unlike its regular monthly reserve report, Binance released this additional report after the October 29 hack, which involved approximately $6.34 billion in crypto assets. The exchange said it had fully recovered the affected assets.
*This is not investment advice.
