Binance says security incident affected $6.3 billion
Binance says a security incident affected about $6.3 billion, with roughly $3 billion frozen as it investigates unauthorized withdrawals and works to restore service.
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Binance said on Oct. 30 that a security incident had an estimated impact of about $6.3 billion, with roughly $3 billion frozen on-chain as the exchange investigates unauthorized withdrawal transactions. In its security incident update, Binance said its preliminary investigation points to a potentially compromised DevOps engineer’s laptop.
The exchange said the laptop may have allowed an attacker to access a service container and submit unauthorized withdrawals. Binance said it had found no evidence that wallet private keys were leaked.
How much has Binance frozen so far?
Binance said it had worked with blockchain partners to freeze about $3 billion of affected assets. It said it was also working with law enforcement and blockchain intelligence partners to track and recover funds.
The company said it would cover all losses using its Secure Asset Fund for Users (SAFU) and company funds. It also said user funds are safe, while describing the $6.3 billion figure as the estimated total impact of the incident.
Are Binance deposits and withdrawals still suspended?
Binance said withdrawals were temporarily suspended while it completes a security review. The exchange clarified in its update that deposits were not affected and continue to operate as usual.
Binance said it had revoked authorization for affected addresses and would publish an updated proof of reserves after remediation. It plans to release a technical post-mortem once its investigation is complete and the facts have been verified.
Sources and documents
- security incident update — binance.com