Attackers exploited a compromised DevOps engineer’s laptop to access a service container, executing roughly $6.36 billion in unauthorized withdrawals across ten blockchains in just 20 minutes. Binance confirmed that wallet private keys were not exposed, guaranteeing that customer balances remain secure through its SAFU fund and corporate reserves. Co-founder Yi He expects temporarily halted withdrawals to resume within 48 hours as internal remediation continues. Meanwhile, swift coordination with partners enabled the freezing of approximately $3 billion on-chain, including $2.54 billion secured by Tether and Circle.
Key points
Binance plans to cover all financial losses utilizing its SAFU fund alongside corporate t…: Binance plans to cover all financial losses utilizing its SAFU fund alongside corporate treasury reserves.
Withdrawals on the platform were temporarily suspended but are expected to start reopenin…: Withdrawals on the platform were temporarily suspended but are expected to start reopening within 48 hours.
Related equity markets suffered immediate downturns, with Coinbase Global slipping 5% and…: Related equity markets suffered immediate downturns, with Coinbase Global slipping 5% and Strategy declining nearly 6%.
Sources checked by our analysis pipeline: 1
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Binance on Thursday said it is investigating reports of a potential security breach, while its founder said the incident “does look like a hack on Binance.” In a post on X, Binance announced that its initial investigation found that the incident may have arisen from a hacked laptop of a DevOps engineer, which allowed an attacker to gain access to a service container and submit unauthorised withdrawal transactions.
Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an…
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