Binance estimates $6.3B impact from security incident

Binance said Thursday, Oct. 29, that a security incident had an estimated impact of about $6.3 billion, with roughly $3 billion frozen on-chain so far, as it investigates unauthorized withdrawals. In its security incident update, the exchange said its initial investigation points to a compromised DevOps engineer’s laptop that may have let an attacker access a service container and submit the transactions.

What does Binance say happened?

Binance said it has found no evidence that wallet private keys were leaked. The exchange has not confirmed that the full estimated impact represents stolen funds; the Associated Press reported Binance’s estimate and investigation details, noting the extent of any damage was not yet clear.

A Binance spokesperson told the AP that user funds were safe. Binance said it would publish more technical details after its investigation is complete and the facts are verified.

How much has been frozen, and what is suspended?

Binance said it had worked with blockchain partners to freeze about $3 billion in affected assets. It temporarily suspended deposits and withdrawals while conducting security checks, freezing funds and working with law enforcement, according to the AP.

The company said it is working with law enforcement, issuers, blockchain intelligence firms and industry partners to trace and freeze more assets. The reported estimate leaves about $3.3 billion not yet accounted for in the figures Binance has shared, though the exchange has not specified the status of that amount.

When will Binance provide more information?

Binance said it would provide updates through its official channels as verified information becomes available. It has not given a timeline for completing the investigation or restoring deposits and withdrawals.

Sources and documents

• security incident update — binance.com
• reported Binance’s estimate and investigation details — apnews.com