Binance, one of the world’s largest cryptocurrency exchanges, faced a $6.3 billion cyberattack in late October. This attack is recorded as the largest hack in cryptocurrency history, and Binance has released its updated reserve report following the hack.
At this point, Binance stated that it had completed recovering the $6.34 billion in assets stolen following the hack.
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.
In this report, apart from 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, Many altcoins were included, such as ARKM, JASMY, GRT, APE, SAND, SYRUP, MANA, 1INCH, ENJ, SSV, MASK, and BUSD.
According to the report, the stock exchange’s reserve ratios remain above 100% for all major assets.
Accordingly, user BTC 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.
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.
*This is not investment advice.
