Binance Announces Initial Security Incident Investigation Results: Approximately $2.85 Billion in Assets Frozen or Intercepted

According to an official disclosure from Binance on November 3, the security incident on October 29 involved approximately $6.34 billion in digital assets. As of the publication of this report, approximately $2.85 billion in assets had been frozen or intercepted. The final amount remains subject to verification and is influenced by market price fluctuations.

A preliminary investigation by Binance revealed that attackers compromised employee devices through fake recruitment interviews and malware downloads, then leveraged internal AI tools and stolen credentials to access wallet signing services, bypassing standard withdrawal processes to initiate transactions. Attackers also exploited Ethereum's EIP-7702 authorization mechanism, granting malicious contracts partial execution permissions over the hot wallet.

Binance stated that it will bear the financial impact resulting from the stolen funds. As of October 31, 98% of the affected token assets had been replenished, with lower-liquidity assets currently being repurchased. The company has secured the identified attack vectors and is engaging independent security experts to conduct further reviews.