Binance Points to Engineer's Laptop in Incident With $6.3 Billion Estimated Loss

Binance said its initial review points to a compromised laptop used by a DevOps engineer as a possible entry point in the security incident. The exchange estimates total losses at about $6.3 billion.

The attacker used the device to enter a service container and send withdrawal requests that Binance had not approved, the exchange said. Binance said investigators have found no evidence that wallet private keys were exposed.

About $3 billion in assets tied to the incident had been frozen on-chain, Binance said. The exchange said it plans to cover all losses with its SAFU fund and company funds, and that customer funds remain safe.

In response, Binance temporarily halted deposits and withdrawals while it carried out security checks and revoked permissions for affected addresses. The exchange is working with law enforcement and blockchain intelligence partners to trace and recover the funds.

Binance said it will release updated proof-of-reserves figures after remediation and a detailed technical analysis once the investigation is complete and facts are verified.