Binance adds zero-knowledge proofs so users can verify 1:1 reserves

Binance has switched on zero-knowledge proof verification for its newest proof-of-reserves snapshot, giving customers a direct way to check that their account balances are backed at least 1:1. The exchange says the check runs on each user's own assets, so the answer applies to them specifically rather than to the platform as a whole.

Here's the mechanic: at a 1:1 ratio, the reserves sitting behind a balance are at least equal to the balance being checked. According to Binance, the new proof lets customers confirm that relationship themselves, instead of taking the exchange's word for it.

The launch lands right after Binance's Nov. 4 update on the seventh stage of recovery work tied to a security incident. Alongside that update, the exchange published an expanded PoR snapshot and said 98% of the stolen assets had been covered.

Binance also said it will soak up the losses from the stolen funds rather than hand them to customers. It claims it has already locked down more than 100% of the amount needed to cover those losses.

Put together, the ZK tool slots into that bigger reserve disclosure — users get to verify their own slice of the backing while the exchange works through the remaining recovery steps.