Binance Says $2.85 Billion Tied to Attack Was Frozen or Intercepted

Binance said $2.85 billion in digital assets tied to its Oct. 29 security incident had been frozen or intercepted by Nov. 3, while it plans to hire an independent cybersecurity firm to conduct a full review.

The exchange’s preliminary accounting put affected assets at about $6.34 billion. That figure counts assets affected, not a confirmed theft total, and could change with further review and market-price fluctuations.

Binance said it will absorb all financial losses from stolen funds rather than pass them to users. It said 98% of affected token assets had been replenished by Oct. 31, while low-liquidity assets were still being sourced.

The preliminary review traced attack preparation to June and described a multistage intrusion involving malicious software, employee devices, internal AI tools and unauthorized access to a wallet-signing service. Attackers used the service to initiate unauthorized transactions on Oct. 29, moving assets across several networks.

Binance said it rebuilt affected wallet systems and internal AI tools, replaced devices and revoked employee credentials and access tokens. The planned independent review is the exchange’s next step in examining the incident.