Binance Discloses Security Incident Investigation Update: Attack Involves Multiple Breach Points; Withdrawals Expected to Resume in 45 Hours

According to Shenchao TechFlow, on October 30, Binance's official X account posted an investigation update. Binance previously believed the security incident may have been related to a compromised laptop, but subsequent investigations found additional breach points.

Binance described the incident as a sophisticated attack and said it is working with law enforcement while still verifying the facts. Binance stated that it will use the SAFU Fund and its own corporate funds to cover all losses. User funds are safe, and deposits are unaffected. After withdrawals were suspended, fund outflows stopped, and withdrawals are expected to resume in 45 hours. Binance is working with partners to freeze affected assets, and approximately USD 3 billion has been frozen so far.

Source: Shenchao TechFlow