Binance Freezes About $3 Billion as Withdrawals Face 45-Hour Delay

Binance expects to resume withdrawals in about 45 hours after freezing roughly $3 billion in assets tied to a security incident, while its investigation has expanded beyond the initially suspected compromise of an employee laptop.

Binance’s latest update said its initial review pointed to a compromised employee laptop, but investigators later identified additional points of intrusion. The later findings suggest a more complex attack, and Binance is continuing to work with law enforcement.

The exchange said unusual outflows stopped after it suspended withdrawals, while deposits remained available. It projects resuming withdrawals about 45 hours after its update.

Binance said it and its partners have frozen about $3 billion in assets related to the incident. The company also said losses would be covered by its SAFU fund and corporate funds, and reiterated that customer funds are safe.

The next milestone is the projected return of withdrawals. Binance’s security review remains active as it works with law enforcement.