Binance Publishes Preliminary Findings of Security Incident: Approximately $2.85 Billion in Assets Frozen or Intercepted

TechFlow reported on November 3 that, according to Binance's official disclosure, the security incident on October 29 involved approximately $6.34 billion in digital assets. As of the report's publication, about $2.85 billion in assets had been frozen or intercepted, with the amount subject to verification and affected by market price fluctuations.

Binance's preliminary investigation stated that attackers compromised employee devices through fake recruitment interviews and malicious software downloads, then used internal AI tools and stolen credentials to access wallet signing services and initiate transactions by bypassing normal withdrawal processes. The attackers also leveraged Ethereum's EIP-7702 authorization mechanism to grant malicious contracts partial execution permissions over hot wallets.

Binance said the company will bear the financial impact caused by the stolen funds. As of October 31, 98% of the affected token assets have been replenished, while the remaining less liquid assets are still being purchased. The company has closed the identified attack vectors and is engaging independent security experts for further review.

Source: TechFlow