Binance’s Reserve Page Shows 1.06 Billion More USDT Than Customer Balances After Hack Refill

Binance’s reserve page now shows roughly 1.06 billion more USDT in its onchain wallet balance than the net balances owed to customers, a gap that emerged after the exchange refilled reserves following a hack. The discrepancy is visible on Binance’s proof-of-reserves dashboard, but the supporting proof that would let users verify full backing has not yet been published. The surplus suggests the exchange holds more Tether than customer liabilities, though without updated attestations it is unclear whether the excess reflects the hack refill, unrelated wallet holdings, or timing differences. Binance customers and counterparties will be watching for the next proof-of-reserves release to confirm that the 1.06 billion USDT overcollateralization is verifiable onchain.