Binance said unauthorized withdrawals began after its global hot-wallet infrastructure was compromised on October 29, 2026, at about 20:05 UTC. In an October 30 update, it valued the affected tokens at about $6.3 billion and said withdrawals were temporarily suspended for additional security checks.
Binance reported that about $3 billion of affected assets had been frozen on-chain, but frozen tokens are not recovered cash and still require legal and technical steps to return. It said it had earmarked more than $6.34 billion in company resources to absorb losses, including roughly $5 billion already held in the relevant tokens; its reimbursement commitment does not establish that every affected account has been restored. Binance said investigators had found no evidence that wallet private keys were leaked, but the precise failure remains unresolved pending a verified technical account. The exchange was targeting a phased restart of withdrawals after security validation and planned an updated proof-of-reserves report by November 2.
