Binance estimates security breach impact at $6.3 billion

“Our teams are working around the clock to resolve this issue safely."

October 30, 2026, 4:45 AM

LONDON -- Binance said its initial investigation into a security incident suggests an attacker may have gained access through a compromised laptop belonging to a DevOps engineer, allowing unauthorized withdrawal transactions costing them approximately $6.3 billion.

In a statement, the cryptocurrency exchange said it had found no evidence that any wallet private keys were leaked and would publish a detailed technical post-mortem once its investigation was complete and the facts had been verified.

Binance estimated the total financial impact at about $6.3 billion, adding that it had worked with blockchain partners to freeze approximately $3 billion in affected assets on-chain.

"Binance will cover all losses from the SAFU fund and the company’s funds," the company said in a statement following the security breach. "User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete."

As an immediate precaution, the exchange said it had temporarily suspended deposits and withdrawals while security checks were underway. It also revoked authorization for the affected address and engaged law enforcement agencies and blockchain intelligence partners to trace and recover the funds.

“Our teams are working around the clock to resolve this issue safely and thoroughly,” Binance said, adding that it was working with law enforcement partners to identify those responsible and bring them to justice.