Binance hack update: Still no evidence of any wallet private key leakage found, technical review report to be released

October 30: Binance CEO Richard Teng posted that Binance user funds are safe, and all losses will be fully covered by the SAFU fund and company funds.

Teng stated that preliminary investigations show the security incident may have begun with the compromise of a DevOps engineer's laptop, after which the attacker gained access to a service container and submitted unauthorized withdrawal transactions within it. He emphasized that the attacker did not simply exploit an engineer's privileges, nor was the attack completed with a single "click"; the entire process involved more complex attack steps. The investigation has not yet attributed responsibility to any individual.

As of now, Binance has not found evidence of wallet private key leakage. The incident is expected to cause approximately $6.3 billion in losses, of which about $3 billion has been frozen through on-chain collaboration.

Binance has taken the following measures: suspending withdrawal services to complete security upgrades for withdrawal services and related addresses; revoking authorizations for affected addresses; and collaborating with law enforcement and blockchain intelligence partners to track and recover funds. Teng stated that user deposits are unaffected and currently operating normally. After the investigation is complete and all facts are verified, Binance will publish a detailed technical post-mortem report and update its Proof of Reserves after completing remediation.