Binance Plans Full Proof-of-Reserves Report by Monday, Teng Says

Binance co-CEO Richard Teng said the exchange will publish a full proof-of-reserves report by Monday, Nov. 2, after an attack on its hot wallet that he said did not affect customer assets. Teng said most customer funds are held in cold wallets and move to hot wallets only when users request withdrawals. Binance hopes to release an initial version of the report sooner. Teng said the exchange is rebuilding withdrawal services and remains on track to resume them by Sunday, Nov. 1. Teng said investigators found additional intrusion points after initially identifying a compromised laptop.