Binance Reserve Verification: What Can Users Check Today? Binance reserve verification lets an account holder check if their balance was counted in a published Proof of Reserves snapshot. SAF
Binance reserve verification lets an account holder check if their balance was counted in a published Proof of Reserves snapshot.
SAFU is a separate emergency fund, and Binance decides which claims qualify. As of November 3, 2026, the latest proof covers ten assets, and another snapshot is planned for November 4.
Both tools drew close attention after the attack of October 29, 2026, which US investigators linked to the theft of more than $6 billion.
The sections below show what each tool proves, where it stops, and how a few simple steps toverify a crypto exchange add more safety. Details were checked on November 3, 2026.
Proof of Reserves (PoR) is a public report built on snapshots, which record balances at one exact moment. On itsProof of Reserves page, Binance says the aim is to show that user assets are backed at least 1:1. Three checks sit behind that claim.
Binance controls the reserve wallets, customer balances are counted in the total owed, and each account holder can confirm their own balance is inside that total.
Anyone still choosing a platform can also compareregulated crypto platforms by country.
Binance lists the steps on itsbalance verification page, last updated on August 14, 2026.
Download the verifier from the official GitHub page. Version 1.2.1 works for snapshots from August 2026 onward.
Log in, open Profile, then Wallet, then Verification, and save the Merkle tree file.
Run the verifier once to check the root hash.
Place user_config.json in the config folder and run the verifier again with the -user option. On Linux the command is ./verifier_linux_amd64 -user.
The Record ID, shown as AccountIdHash, points to the account in that snapshot. AccountIndex marks the matching leaf in the Merkle tree. A snapshot is not live data, so a deposit made later will not show up in it.
The finished proof for the October 31 snapshot covers ten assets: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC. The wider snapshot planned for November 4 is not live yet.
A Merkle tree takes every account and converts it into a small coded entry called a hash. A hash is a fixed-length digital fingerprint made from account data, such as an ID and a balance. The entries merge into one root code, so if a single balance changes, the root changes too.
A zk-SNARK proves facts without exposing private data. Binance says its circuit checks that balances are included in the total, that each net balance is zero or higher, and that the root update is valid. Other users’ balances stay hidden.
Not by itself. A snapshot shows backing for the assets and balances it covers at one moment. It can’t prove every debt or future ability to pay, and it doesn’t replace an independent review of the exchange’s full finances.
The Futures Insurance Fund sits outside the customer POR. It helps cover deficit losses from bankrupt futures positions and lowers the risk of auto-deleveraging.
Fees, custody, and past incidents matter as well, and this review ofBinance fees and risks covers all three.
SAFU is short for Secure Asset Fund for Users. Binance set it up in July 2018 as an emergency reserve for extreme cases.
Binance created it in July 2018 as an emergency reserve for extreme cases, funded by a share of trading fees. According to theSAFU FAQ, part of it serves as capital reserves under Binance’s ADGM obligations, and Nest Clearing and Custody Limited, a recognized clearinghouse, holds and manages it.
On-chain data showed transfers on October 31 that left the public SAFU BTC wallet with just over 7,500 BTC, roughly $580 million at the time of writing.
The wallet held about 15,000 BTC after the February 2026 conversion into Bitcoin. The FAQ was last updated on February 2, so its figures are out of date.
The FAQ says that if the fund’s value falls below $800 million because of BTC price moves, Binance will rebalance it to $1 billion.
That rule is about price swings, not spending. Binance has separately said it plans to restore SAFU to about $1 billion, with no public date.
SAFU is not automatic insurance. The FAQ says eligible losses may include account-login credential compromises caused by vulnerabilities or deficiencies in Binance’s systems or security protocols, and Binance keeps discretion over claims.
Requests go through Binance Support within 90 days. Replacing assets in this incident is separate from the claim process. Other platforms differ, as this look atexchange protection models shows.
Proof of Reserves
SAFU
Purpose
Shows reserve backing and balance inclusion
Emergency user-protection reserve
Method
Merkle tree and zk-SNARKs
Reserve assets held in public wallets
What users check
Own balance in a snapshot
Wallet balances on a block explorer
Limit
Not a full audit or proof of every debt
Claims are reviewed, not guaranteed.
One tool checks records. The other holds money for emergencies. A Binance Reserve Verification security assessment weighs both against account security and custody risk.
October 31, Update #3: About 90% replaced using part of SAFU, part of the futures insurance fund, and company funds. A PoR snapshot was taken at 00:00 UTC.
November 1, Update #4: About 95% covered. The last 5% sits in less liquid tokens outside the top ten. The first withdrawal phase began.
November 2, Update #5:Binance on X said holders of the ten listed assets could verify their balances.
November 3, Update #6: Another withdrawal phase began at 04:00 UTC on networks such as BNB Smart Chain, Ethereum, Solana, and Base. The rollout is gradual, and deposits stay open.
November 4: A wider snapshot is planned. Its proof should take 40 to 50 hours.
These are Binance’s own figures, not an independent audit. The 95% number describes replacement funding, not stolen coins recovered, and withdrawals have not fully reopened. The FBI has attributed the attack to the North Korea-linked group TraderTraitor.
Read the snapshot date and the asset list.
Confirm the account’s own balance in the verification data.
Note which funds PoR does not show.
Look up the latest SAFU wallet balance, not old figures.
Check the November 4 proof once it is published.
Keeping everything on one platform adds risk. Funds held off an exchange depend on private keys, and offline hardware wallets keep those keys away from the internet.
Binance reserve verification gives account holders a clear way to check if their balance sits inside a snapshot. SAFU is an emergency reserve that anyone can see on-chain, but its BTC wallet now holds about half of what it did in February.
Neither one is a full audit, and neither promises to repay every loss. The proof for the November 4 snapshot is what to check next.
Disclaimer: Nothing in this article is financial advice. Crypto can lose value in a day, and Binance may change its wallets, proofs, or withdrawal rules at short notice. Official Binance announcements are the best place to confirm details before funds are moved.
