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Binance Publishes Proof of Reserves While Recovering From Record Hack
(1 hour ago) · 1 source · Summarized by CryptoBipto
Binance has completed its latest proof of reserves snapshot as the exchange continues working to restore assets and withdrawals following what is described as a record hack. The publication appears aimed at demonstrating solvency while the platform recovers from the security incident.
WHY IT MATTERS
When you deposit cryptocurrency on an exchange like Binance, the exchange holds your funds for you, similar to how a bank holds your money.
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SOURCES
- theblock.co
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Exchange SecurityProof of ReservesBinanceCrypto HacksUser Fund Safety
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