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Binance Expands Proof of Reserves to 44 Tokens After Hack

Binance has expanded its proof-of-reserves coverage to 44 tokens following a hack, saying it has replenished about 98% of affected assets. The exchange’s new cryptographic proof remains unfinished and withdrawals are not fully reopened.

Original source

AI take

The notable detail is the gap between the reassurance and the mechanics: coverage now spans 44 tokens and most affected assets are said to be replenished, yet the cryptographic proof is still incomplete and withdrawals are not fully reopened. That combination puts the burden of trust back on the exchange's word rather than on verifiable attestation, which is precisely the standard proof-of-reserves is meant to replace. The parties most exposed are holders of the affected tokens and anyone treating reserve disclosures as a risk signal. Whether the proof is completed and withdrawal access restored is the open question.

Generated by AI for reference only.

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