Binance SHIB Reserves Reach 100.04% After Hack

Binance SHIB reserves were reported at 100.04% in a snapshot taken on November 12, giving the exchange slightly more SHIB in reserve than its reported customer balances. The update follows the October 29 security incident, but Binance says the final zero-knowledge proof is still being generated, so users are awaiting the independent balance check.

• Binance reported 50.67 trillion SHIB in customer net balances and 50.69 trillion SHIB held to back them, according to U.Today.
• The new Proof of Reserves snapshot covers 198 tokens, compared with 44 in the November 4 update, Binance said.
• The exchange said it used more than $6.34 billion in company funds to cover affected user assets.
• Arkham Intelligence tracks 58.82 trillion SHIB in known Binance wallets, a broader figure than the customer backing shown in the report.
• Withdrawals were still reopening in phases in Binance’s November 12 statement, while the final zk-SNARK verification remained in progress.

Timeline of the Binance SHIB reserves update

1. October 29, 2026: Attackers moved funds across 10 blockchains in about 20 minutes, U.Today reported. Nearly 500 billion SHIB was among the assets identified as stolen.
2. October 30, 2026: Binance arranged more than $6.34 billion in company funds to cover losses. CoinDesk reported that industry partners had separately frozen approximately $3 billion in assets. Those frozen assets were not part of Binance’s reserve funding.
3. November 4, 2026: Binance said it had replenished about 98% of the impacted amount. The exchange said that completing purchases of less-liquid tokens could take longer; that reserve snapshot included 44 tokens.
4. November 12, 2026: Binance published a new snapshot at 00:00 UTC and said it had completed coverage of affected user assets. The exchange says generation of the full proof takes approximately 40-50 hours.

What the Binance SHIB reserves figure means

The reported 100.04% ratio compares customer net balances with the SHIB Binance says it holds to back those balances. U.Today puts the customer figure at 50.67 trillion SHIB and the reserve figure at 50.69 trillion. That is a small surplus on this snapshot. The report presents aggregate customer balances and reserves; the cited material does not provide a user-by-user breakdown.

The distinction matters because Binance says its Proof of Reserves report covers customer deposits and assets held to back them, not the company’s own funds. Arkham’s 58.82 trillion SHIB estimate refers to known Binance wallets overall. It is therefore not directly comparable to the PoR figure. Binance says company funds are excluded from the PoR report, but the available figures do not explain what accounts for the difference.

Binance says the report includes 198 tokens and that users will be able to check whether their balances appear in the ledger once the Merkle Root Hash is complete. Its November 12 announcement says the replacement funding came from a partial SAFU deployment, surplus in its Futures insurance fund, and corporate treasury. The company also committed to restoring SAFU to approximately $1 billion.

The November 12 snapshot was taken at 00:00 UTC. Binance says its PoR report covers client deposits and assets held to back them, not the company’s own funds. The exchange said users could check whether their balances were included after the full zero-knowledge proof was generated.

Wallet data and market context

Binance’s figures point to customer-asset coverage, while U.Today’s SHIB report highlights a separate question about total wallet balances. Arkham’s data places Binance among the largest exchange holders of SHIB, with 58.82 trillion tokens, worth about $251.16 million at the value cited in U.Today’s report. The outlet says that equals 5.88% of SHIB’s total supply.

U.Today reported SHIB at $0.00000426 at publication on November 13. That is a reported price, not proof that the reserve announcement drove market activity. In the wider market, CoinGecko data at 13:13 UTC on November 13 showed Bitcoin down 4.64% over 24 hours, Ethereum down 2.42%, and BNB down 2.34%. The Crypto Fear & Greed Index was 20, classified as Extreme Fear, on November 13. Those figures show a risk-averse market backdrop, but do not establish a direct link to the Binance incident.

The exchange’s recovery effort should also be viewed alongside the separate report that partner firms froze assets, as CoinDesk explained.

What to watch next

The next step is publication of the completed zero-knowledge proof and the customer-facing process to verify balances. Binance estimated 40-50 hours to generate the proof from its November 12 announcement. Until users can perform that check, the 100.04% Binance SHIB reserves ratio remains a reported snapshot rather than a completed user-level check of account inclusion.

Customers will also be watching the phased reopening of withdrawals and the handling of a small number of affected tokens Binance no longer supports. The exchange said those tokens would be handled through its delisting process and holders would be covered.

FAQ

What do Binance SHIB reserves show?

Binance reported 50.69 trillion SHIB held against customer net balances of 50.67 trillion SHIB in its November 12 snapshot, a coverage ratio of 100.04%, according to U.Today.

Is Binance’s full Proof of Reserves proof already available?

Not yet, according to Binance’s November 12 statement. It said the full zk-SNARK proof would take approximately 40-50 hours to generate, after which users could check that their balances are included.

Why does Arkham show more SHIB than the reserve report?

Arkham’s 58.82 trillion SHIB figure tracks known Binance wallets, while the PoR report counts customer balances and the assets backing them. Binance says company-owned funds are excluded from its customer reserve calculation, so the totals cover different things.

Sources

• Binance Completes Coverage of Assets Impacted in Security Incident; New Proof of Reserves Published (www.binance.com)
• Binance arranges $6.34 billion to cover losses from biggest crypto hack ever (www.coindesk.com)
• Binance Reveals Final Numbers After $6.34 Billion Hack: 100.04% of Shiba Inu (SHIB) Reserves Confirmed (U.Today)

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.