Binance Has Shed $16B Since The Hack as Its Proof Lands Tuesday

Binance's tracked exchange assets have fallen by roughly $16.6 billion since the Oct. 29 hack, dropping from about $144.9 billion to $128.3 billion, according to DefiLlama data. The exchange's full zero-knowledge reserve proof, initially promised for Monday, is now scheduled for release on Tuesday, Nov. 3. The drawdown reflects user withdrawals and asset movements following the security breach, which has put Binance's proof-of-reserves commitments under intense scrutiny. The delayed zk-proof is a critical test for the exchange, as it aims to cryptographically verify that reserves fully cover customer liabilities and restore confidence. Market participants will be watching Tuesday's proof for coverage ratios, wallet attestations, and whether outflows accelerate if the attestation falls short or is further delayed.