📢 Flash
Binance: Approximately 80% of the stolen funds have been recovered; withdrawals are expected to resume in stages within 34 hours, with the first Proof-of-Reserves snapshot scheduled within 12 hours.
Binance released Security Incident Update #2 at 03:33 UTC+8 on October 31, providing the latest developments in its investigation and asset compensation efforts over the past 24 hours. The announcement confirmed that the attack occurred at 04:05 UTC+8 on October 30, 2026, compromising Binance’s hot wallet and resulting in the theft of approximately $6.3 billion worth of tokens. Binance reaffirmed its firm commitment to fully cover all losses using funds from its SAFU fund and internal capital—ensuring zero impact on user assets and no liability for users.
To date, Binance has mobilized over $6.34 billion in corporate funds to bridge the shortfall. Of this, more than $5 billion in equivalent assets—including USDC, USDT, BTC, ETH, and BNB—have already been secured; roughly 80% of the stolen funds have been replenished, with the remainder being acquired continuously via public markets and OTC channels. Additionally, Binance has frozen approximately $3 billion worth of related on-chain assets.
Regarding the attack’s origin, initial analysis pointed to a compromised laptop; however, deeper investigation revealed additional, previously unidentified intrusion vectors. At present, there is no evidence indicating that hot wallet private keys were leaked. A more detailed technical analysis is expected to be published within approximately 48 hours.
On service restoration, Binance is actively working to reinstate withdrawal functionality in phases, targeting completion within roughly 34 hours—subject to progress in security validation. The first Proof-of-Reserves snapshot is scheduled to be finalized within 12 hours and publicly released no later than November 2. Meanwhile, Binance continues collaborating closely with law enforcement agencies, blockchain intelligence providers, and affected token issuers to trace and recover stolen funds—and will publish a comprehensive technical post-mortem report in due course.
To date, Binance has mobilized over $6.34 billion in corporate funds to bridge the shortfall. Of this, more than $5 billion in equivalent assets—including USDC, USDT, BTC, ETH, and BNB—have already been secured; roughly 80% of the stolen funds have been replenished, with the remainder being acquired continuously via public markets and OTC channels. Additionally, Binance has frozen approximately $3 billion worth of related on-chain assets.
Regarding the attack’s origin, initial analysis pointed to a compromised laptop; however, deeper investigation revealed additional, previously unidentified intrusion vectors. At present, there is no evidence indicating that hot wallet private keys were leaked. A more detailed technical analysis is expected to be published within approximately 48 hours.
On service restoration, Binance is actively working to reinstate withdrawal functionality in phases, targeting completion within roughly 34 hours—subject to progress in security validation. The first Proof-of-Reserves snapshot is scheduled to be finalized within 12 hours and publicly released no later than November 2. Meanwhile, Binance continues collaborating closely with law enforcement agencies, blockchain intelligence providers, and affected token issuers to trace and recover stolen funds—and will publish a comprehensive technical post-mortem report in due course.
