# Exchange Solvency Proofs Face Data Scrutiny

After large custodial thefts, exchanges will keep publishing reserve and liquidity claims, and independent on-chain analysts will keep testing them, so deposits drift toward venues whose assets and liabilities are verified on the same date by outside parties.

- Conviction: 40 / 100 (weakening)
- Horizon: Emerging (watchlist)
- Tracking since: 2026-11-06T00:00:00.000Z
- Last updated: 2026-11-12T14:14:59.541Z
- Canonical: https://polylog.news/crypto/trends/exchange-solvency-proof-scrutiny
- Publisher: Polylog
- Affected regions: Global

## Recent score history

- 2026-11-11: 42
- 2026-11-12: 40

## Recent evidence

- [confirms] Hackers claim to hold Binance user data and demand $900,000 as the fallout from the $6.3 billion theft spreads (2026-11-09): After the $6.3 billion theft, Binance's CFO is departing and about $3.1 billion of stolen funds is still unrecovered. A finance-chief exit right after a large custodial loss gives analysts more reason to test the exchange's reserve and liability claims.
- [confirms] Bitcoin holds above $76,000 as US spot funds post another $411.9 million in withdrawals (2026-11-08): Coin Metrics has changed how it counts Binance balances, which complicates the exchange-flow signal traders watch. Third-party data on Binance's on-chain holdings keeps being revised after the theft, so outside verification of the exchange's balances remains in flux.

2 more evidence entries, the full score history, the conviction-driver timeline, and affected assets are for subscribers: https://polylog.news/pricing