Binance Proof of Reserves for 31 October Is Now Verifiable; Thai SEC Watches Exposure as Indodax Says It Closed a Security Gap

Binance says users can now check that their balances in ten tokens are backed one to one, after it finished "the full zero-knowledge proof" for a reserves snapshot taken at 00:00 UTC on 31 October. The 2 November update covers BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC.

Binance says about 95% of the impacted amount is covered by reserves in those tokens, and the rest is in tokens outside the top ten. The theft from its hot wallets has been attributed by the FBI to North Korea's TraderTraitor.

Withdrawals and the next snapshot

Withdrawals came back on 1 November for a first group of networks, among them BTC, ETH, BSC, TRX, SOL and XRP. Binance says the next phase is "planned for tomorrow", meaning 3 November, as a progressive rollout.

Another reserves snapshot with more tokens is planned for 4 November; Binance says each proof takes about 40 to 50 hours.

Thailand and Indonesia

Thailand's Securities and Exchange Commission said it is monitoring exposure to the theft, the Bangkok Post reported on 31 October. Binance TH, the Thai exchange operated by Gulf Binance, suspended deposits and withdrawals as a precaution; the paper reports that Binance TH keeps its custody separate from Binance's.

In Indonesia, Indodax paused deposits and withdrawals on 29 October, calling it maintenance. Its chief executive, William Sutanto, said the exchange had seen more attempted cyberattacks and that no unauthorised withdrawals or data leaks were found. He later said a security check had found "potensi celah keamanan", a potential security gap, which has been closed. Services reopened in stages from 31 October.

Indonesia's financial regulator OJK said it saw no rush on crypto platforms and told operators to test their security and keep customer assets segregated.