Binance officially launches Merkle Tree proof of reserves verification: How to verify your exchange assets?

After releasing partial asset proofs, Binance further enhances Merkle Tree proof verification on 11/25, allowing users to verify on-chain and ensure consistency of fund details to prevent misappropriation.

How to Verify My Binance Transactions?

• Click on "Wallet" on the Binance website
• Then click on "Audit"
• You will be able to see your Merkle Tree hash tree information on the page
• Currently, only Bitcoin transactions are audited

However, in addition to on-chain verification, there is a "Auditors" field, indicating that there will be third-party auditors to re-verify in the future.

For users who wish to further verify the Merkle Tree hash tree information, Binance also provides steps. "Copy the code to all your Python applications or use tools such as https://www.online-python.com/"

Industry-High Audit Procedure

Binance's current user asset audit standards include the following:

• Verification of address ownership: I ensure that the ownership of the assets used to verify reserves belongs to Binance (including cold or hot wallets).
• User balance snapshot: The sum of users' spot, funds, leverage, futures, savings, and options wallet balances at the time of the snapshot.
• Generation of Merkle Tree: Generating the underlying data block by linking each user's hashed UID and balance.
• Verified by a third-party auditing agency - To be completed in the future