Binance updates Proof of Reserves addresses, will route all withdrawals through new wallets

Binance has refreshed its Proof of Reserves wallet list. Going forward, every withdrawal on the exchange will be processed from the newly listed addresses.

The change is part of a recovery effort following a breach that drained approximately $6.3 billion from Binance’s hot wallets between October 29 and 30, 2026.

Binance has labeled the wallet update part of its Recovery Update #3. It is the latest step in an effort to show customers that the money backing their balances is still there, and that the plumbing moving it has been rebuilt.

What changed, and what the numbers say

A Proof of Reserves (PoR) program is an exchange’s way of showing its receipts. It publishes the wallet addresses holding customer assets so anyone can check the balances on-chain against what users are owed. Binance’s updated PoR page now lets customers download the full address list.

A new reserve snapshot was completed on October 31, 2026, at 00:00 UTC. According to Binance’s figures, ten major assets showed reserve backing above 100%.

Bitcoin came in at 100.04%. BNB, the exchange’s native token, was reported at 101.30%.

Binance also says a full zk-SNARKs proof is expected by November 3, 2026. That is the cryptographic piece that would let users independently verify their own balances are included in the reserves.

Plugging the hole

The exchange allocated more than $6.34 billion, drawn primarily from corporate resources, to replenish assets affected by the breach. That allocation has restored nearly 90% of the affected assets, an increase from Binance’s previous recovery update.

Withdrawals were paused while the exchange carried out security reviews. They are anticipated to resume on November 1, and when they do, the funds will leave from the newly designated PoR addresses.

Co-CEO Richard Teng and other executives have reaffirmed that customer funds were not lost. They also said the company is absorbing the full impact of the incident on its own balance sheet.

What this means for users

For Binance customers, the near-term checklist is short. Watch whether withdrawals actually resume on November 1 as anticipated. Then watch whether the zk-SNARKs proof arrives by its November 3 target.

Users who want to verify things themselves now have the tools. The downloadable address list means anyone can compare published balances with on-chain data, rather than relying on the exchange’s word.

The risks remain clear. Ratios like 100.04% for Bitcoin leave little room for error, and the replenishment was described as nearly 90% complete as of the latest update. Until withdrawals run smoothly from the new addresses and the cryptographic proof is published, the recovery is a work in progress rather than a finished job.