Binance Says About $3 Billion in Affected Assets Is Frozen On-Chain

Binance said an employee’s compromised computer was the attack’s entry point and that about $3 billion in affected assets had been frozen on-chain.

The exchange said the computer intrusion was only the first stage and did not by itself enable the attackers to move funds. Binance said the transfers did not result from an engineer simply using their access or from one person’s single action. Its investigation has not assigned responsibility to any individual.

Binance said it has found important leads and is working with law enforcement and blockchain intelligence firms to track the assets. It said there is no evidence that wallet private keys were exposed, and customer funds remain safe. The exchange said all stolen losses will be covered by its SAFU fund and company funds.

Deposits remain available, while withdrawals are temporarily paused as a precaution. Binance expects to resume withdrawals within 48 hours, the exchange said.