DECRYPT · 2026-10-30 16:34 UTC

Binance Sets Aside $6.34B to Cover Hack Losses, CEO Says 'Your Assets Are Safe'

Binance suffered a $6.34B hack affecting its own hot wallet, not customer funds, with CEO Richard Teng confirming the exchange will cover all losses from company reserves. The attack exploited Ethereum's EIP-7702 feature and involved multiple breach points; blockchain analysts attribute it to North Korean group TraderTraitor. Binance aims to restore withdrawals by Sunday and publish a full proof of reserves report by Monday; the attacker continues moving stolen funds across blockchains.

Loading the story on Tree News…