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Binance has backfilled approximately 80% of stolen funds, plans to resume withdrawals in phases within 34 hours
Binance announces the latest progress in handling the security incident<p>Binance officially disclosed that it has prepared over 6.34 billion USD in corporate funds, of which token assets equivalent to more than 5 billion USD including USDC, USDT, BTC, ETH, BNB and others are fully in place. Approximately 80% of the stolen funds have been backfilled at present, and the remaining gap is being gradually filled through public market and over-the-counter trading channels.</p><p>As of now, the platform has frozen approximately 3 billion USD of related involved assets on-chain. No relevant evidence of wallet private key leakage has been found after preliminary investigation, and the core assets of users are not under further threat.</p><p>The platform will resume withdrawal services in phases for different tokens within approximately 34 hours, and plans to complete the first proof-of-reserves snapshot within 12 hours. The relevant snapshot results will be officially released to the public before Monday, November 2.</p><p>In addition, Binance stated that it expects to release further technical investigation results of this security incident within approximately 48 hours, fully disclosing the incident details and subsequent protection upgrade plans to users.</p>
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BreakingInside the largest crypto hack on record: How attackers breached Binance for $6.3 billion
Record-Breaking $6.3 Billion Binance Hack Details Uncovered<p>Cybersecurity investigators have formally linked the largest recorded cryptocurrency hack in history, which targeted Binance, to North Korean threat actors. The total value of assets stolen in the breach reaches $6.3 billion, far exceeding all prior recorded crypto heists.</p><p>The attack exploited vulnerabilities in Binance's hot-wallet signing infrastructure, allowing unauthorized actors to gain access to critical key management systems that control outgoing transaction approvals. No details have been released on whether the vulnerability was a zero-day exploit, a social engineering compromise of Binance engineering staff, or a misconfiguration in the wallet signing workflow.</p><p>Tracking of the stolen on-chain funds shows the attackers have already initiated a multi-stage laundering process, splitting the large sum across hundreds of intermediate addresses before routing portions through mixing services and cross-chain bridges to obfuscate the transaction trail. Industry analysts note the scale of the breach far outpaces the 2014 Mt. Gox hack, which previously held the record for the largest crypto exchange theft at roughly $460 million at the time of the incident.</p>
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