COINDESK · 2026-10-30 16:31 UTC

Binance uncovers wider breach in $6.3 billion exploit, targets Sunday withdrawal restart

Binance discovered additional security breaches beyond a compromised employee laptop in the $6.3 billion hack, with attackers using a self-destruct mechanism and exploiting Ethereum's EIP-7702 feature to drain a hot wallet. Co-CEO Richard Teng said the exchange aims to restart withdrawals by Sunday and has committed to cover all $6.3 billion in losses using company funds, with over $6.34 billion already reserved. Binance is reviewing cloud systems, employee devices, and private-key management procedures, and plans to publish a proof-of-reserves update before releasing a full report Monday.

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