Some things need to be said.
$6.3 billion is not just a number. Behind it is the trust millions of users have placed in Binance.
What happened on October 29 should never have happened. The responsibility is ours, and we won’t make excuses.
We’ve committed more than 100% of the funds needed to cover the losses, with 98% of impacted token assets already replenished.
But covering the losses is only part of our responsibility.
We’ve published our initial findings, including what went wrong, how the attack happened, and what we’ve done to strengthen our security.
We know this report will bring criticism, and that’s okay. We need to listen, learn, and do better.
Security isn’t just a Binance issue. The lessons from this incident matter to the entire industry, and we’re willing to share them.
Trust isn’t something we can ask for. It’s something we have to earn through our actions.
And that’s exactly what we’ll keep working on. 💛
Trust is earned, and we’re grateful for the confidence you place in us. #ThankYouBinancians
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Safety first.💁🏻♀️
Latest Withdrawal Update
Withdrawals have now been re-enabled for the following networks and assets:
New:
✅ SOL: SOL, USDT, USDC
Already Enabled:
✅ BTC: BTC
✅ ETH: ETH, USDT, USDC
✅ BSC: BNB, USDT, USDC
✅ XRP: XRP
✅ Base: ETH, USDC
✅ DOGE: DOGE
✅ OP (Optimism): ETH, USDT, USDC
✅ ARBITRUM: ARB, ETH, USDT, USDC
✅ TRX: TRX, USDT
We will continue to restore additional assets and networks in phases as security checks are completed. Further updates will be shared through official Binance channels.
Withdrawals have now been re-enabled for the following networks and assets:
New:
✅ SOL: SOL, USDT, USDC
Already Enabled:
✅ BTC: BTC
✅ ETH: ETH, USDT, USDC
✅ BSC: BNB, USDT, USDC
✅ XRP: XRP
✅ Base: ETH, USDC
✅ DOGE: DOGE
✅ OP (Optimism): ETH, USDT, USDC
✅ ARBITRUM: ARB, ETH, USDT, USDC
✅ TRX: TRX, USDT
Please carefully check all details during the withdrawal process, and make sure your device is secure and the address is correct. Safety first.💁🏻♀️
We know how important trust is, especially in moments like this.
We've now replenished 90% of the stolen assets, and we're committed to covering the remaining 10%. Our users will not bear the financial impact of this incident.
We've also shared an updated Proof of Reserves snapshot, and we're working towards resuming withdrawals on November 1.
Thank you for your patience and trust. We'll keep you updated every step of the way.
Binance has begun recovering affected assets for users and continues to work with law enforcement, issuers, blockchain intelligence firms and industry partners to trace, freeze and recover additional funds.
The company has already publicly committed to cover losses through company funds in the prior announcement.
Binance has already reserved over $6.34B of company funds to cover this incident. $5B of these funds are already held in the exact token assets that were impacted. We are completing the purchase of the remaining amount by buying token assets through market channels and OTC channels. We are doing this to match the format of the remaining token assets and address any asset shortfalls. This step can take longer because some tokens may have low liquidity and OTC settlement also takes time. We will share more progress as soon as we can.
These figures do not include frozen or protected assets, which remain subject to ongoing recovery and verification. Currently, $3bn has been frozen, with thanks to our industry partners. We are working with partners and law enforcement to recover the frozen assets.We will continue to use company resources to cover confirmed shortfall and will provide further verified updates as recovery efforts progress. Ultimately, all user funds will be verified publicly through our Proof of Reserves.
We will weather this storm. Thank you for the support.
I want to speak to you directly about what happened.
Bottom line - your money is safe, and we're covering every loss.
Our initial investigation suggests this security incident may have started with a compromised DevOps engineer's laptop. That gave an attacker access to a service container, where they submitted unauthorized withdrawal transactions.
To be clear: the attacker did not simply use one engineer's permissions, and this was not a single "one-click" action. It involved a more complex attack process. Our investigation has not attributed responsibility to any individual.
So far, we have found no evidence of any wallet private key leak.
We'll share a detailed technical post-mortem once the investigation is complete and every fact is verified - and publish an updated Proof of Reserves once remediation is complete.
What you need to know:
• Your funds are safe
• Binance will cover all losses from the SAFU fund and company funds
• Estimated total impact: ~$6.3B, with ~$3B frozen on-chain so far, in coordination with our blockchain partners
• No evidence of any wallet private key leak
• Deposits are unaffected and operating as normal
What we've done:
• Temporarily suspended withdrawals while we complete a security revamp of the withdrawal service and its related addresses
• Revoked the affected address authorizations
• Engaged law enforcement and blockchain intelligence partners to trace and recover funds
Our team hasn't stopped. We're working closely with law enforcement to ensure the matter is handled appropriately - and I'll share what I can, as soon as I can.
User funds are safe.
Binance will cover all hacking losses.
Deposits and withdrawals are temporarily suspended while our team conducts security checks, freezes funds, and works with law enforcement.
We will share a full post-mortem once the investigation is complete. Please rely only on official Binance channels for updates.
Regarding this security incident, there are many questions about the technical details. Based on the information currently available, we will clarify a few points:
1️⃣ This is not a case of hacking into one computer and transferring money
This is not an incident that could be carried out through a single device. The hacking of an employee's computer was the starting point of this attack. Attacks targeting cryptocurrency institutions are usually highly targeted, and attackers often try to use complex methods to infiltrate systems.
We have already discovered important clues related to the incident and have taken immediate measures to control the risk. The related investigation and tracing efforts are still ongoing. At this stage, the platform's core risk control and emergency mechanisms have been activated, and the security of user assets is our top priority.
2️⃣ Regarding "whether engineers have excessive permissions"
This is not an incident where the attacker directly used the permissions of a certain engineer to complete the fund transfer, nor was it caused by a single person performing a "one-click operation." The related anomalies involve a more complex attack process. It should be emphasized that the current investigation has not attributed responsibility to any individual. The company will bear the corresponding responsibility and continue to carry out subsequent handling and security upgrades.
3️⃣ Facts that can be confirmed at present
No evidence of wallet private key leakage has been found. Regarding user fund security, all losses caused by this incident will be fully covered by the SAFU fund and company funds, and users will not bear any losses. About US$3 billion in affected assets have been frozen on-chain. We are cooperating with law enforcement agencies and blockchain intelligence organizations to investigate, and the flow of funds on-chain is publicly traceable.
4️⃣ Deposit and withdrawal status
Deposits are fully open and unaffected. Withdrawals have been suspended as a precautionary measure and are expected to reopen within 48 hours. The specific time will be subject to the official announcement. We understand this causes inconvenience to everyone and will provide updates on progress as soon as possible.
5️⃣ Follow-up
We will continue to provide updates on progress while ensuring the accuracy of the investigation, and after the incident handling and review are completed, we will announce detailed information and further security reinforcement measures. We will face the exposed issues squarely and will be transparent in addressing them.
Thank you all for your patience and oversight. 💛
@dianabinance@MrBullish What is one trading mistake that looks like good decision-making in the moment but quietly destroys long-term profitability, and how can traders recognize it before it becomes a habit?
He barely knew AI 6 months ago. Now he’s building his own agents.
@nguyen0xhieu joins us on #BinanceConnect to go From Zero to Agent OS: how to start building your first agent, where AI should stay in control vs you, and what is actually useful today.
🪂 Binance swag giveaway:
1. Drop your question for Hieu in the comments
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@amandabinance@nguyen0xhieu@dianabinance@binance As you moved from barely knowing AI to actually building autonomous agents, what's one thing about agentic AI that you think people are getting completely wrong right now, and what do you think will matter most when agents become capable of handling real-world tasks on their own?