Richard Teng retweeted
Withdrawal Update
Withdrawals have now been restored for the following assets and networks:
- Ethereum Network: USDC, USDT, ETH
- BNB Smart Chain (BSC): USDC, USDT, BNB
We will continue to restore additional assets and networks in phases following the completion of our security checks. Further updates will be shared through official Binance channels.
Withdrawals have now been restored for the following assets and networks:
- Ethereum Network: USDC, USDT, ETH
- BNB Smart Chain (BSC): USDC, USDT, BNB
We will continue to restore additional assets and networks in phases following the completion of our security checks. Further updates will be shared through official Binance channels.
Update: First batch network now opened in phase one of withdrawals is $BTC bitcoin network
618
704
4,693
2,337,074
Today, we're beginning the phased resumption of withdrawals, taking a careful approach to ensure services return safely and securely.
We've now replenished approximately 95% of the impacted assets, and our commitment remains clear: Binance will absorb the financial impact of the sers.
Thank you for your patience, understanding, and continued trust. We know this hasn't been easy, and we're committed to seeing the recovery through.
We've now replenished approximately 95% of the impacted assets, and our commitment remains clear: Binance will absorb the financial impact of the sers.
Thank you for your patience, understanding, and continued trust. We know this hasn't been easy, and we're committed to seeing the recovery through.
85
89
584
69,738
We know how important trust is, especially in moments like this.
We've now replenished 90% of the stolen assets, and we're committed to covering the remaining 10%. Our users will not bear the financial impact of this incident.
We've also shared an updated Proof of Reserves snapshot, and we're working towards resuming withdrawals on November 1.
Thank you for your patience and trust. We'll keep you updated every step of the way.
We've now replenished 90% of the stolen assets, and we're committed to covering the remaining 10%. Our users will not bear the financial impact of this incident.
We've also shared an updated Proof of Reserves snapshot, and we're working towards resuming withdrawals on November 1.
Thank you for your patience and trust. We'll keep you updated every step of the way.
226
250
1,763
140,632
Over the past 24 hours, our teams have been working around the clock to respond to a serious security incident involving unauthorized withdrawals of funds. This is a live update on where things stand - what we've done, what we've learned, and what comes next.
Bottom line: Binance will absorb the financial impact of these stolen funds, not our users.
Over $6.34B reserved, $5B already held in the exact impacted assets. ~$3B frozen so far with our partners,
Withdrawals resume once security checks are done. Then our Proof of Reserves, and a full post-mortem.
We are grateful to our users for their patience and understanding.
Read the full update:
Bottom line: Binance will absorb the financial impact of these stolen funds, not our users.
Over $6.34B reserved, $5B already held in the exact impacted assets. ~$3B frozen so far with our partners,
Withdrawals resume once security checks are done. Then our Proof of Reserves, and a full post-mortem.
We are grateful to our users for their patience and understanding.
Read the full update:
144
113
891
77,493
TRANSCRIPT:
Hi everyone, firstly, I want to thank you all for the support. Difficult times like these are a great reminder how strong our industry is when we work together.
We are grateful to our partners that acted quickly to freeze the hacked assets; to global law enforcement, who we’re working hand in hand with to seek justice;
But most of all - we are grateful to our users for their patience and understanding.
Rest assured that we are working non-stop to resolve this, to make the users whole, and live up to your trust.
I want to be clear: WE ARE COMMITTED TO COVERING ALL HACKED LOSSES THROUGH OUR COMPANY FUNDS. Your assets are safe.
The good news is that we are recovering stolen assets for users.
Binance has reserved over $6.34B of company funds to cover the stolen assets. $5B of these funds are already held in the exact token assets that were impacted, such as USDC, USDT, BTC, ETH, BNB etc.
I know many of you are still asking the same question: how can Binance actually prove that your assets were not affected?
Let me be direct about the first point. We NEVER use any customer funds, so they are not impacted. What was affected in this incident was Binance's own hot wallet. User assets are held under Binance's established security architecture. The vast majority sit in cold wallets, and are only moved into a hot wallet when a user makes a withdrawal.
One more thing I want to share. Binance has always been built for the long term. Most of what we earn from day-to-day operations is held in crypto assets. We have kept a lot of them in the company, and reinvested them — into the business, and into security. Because we believe in crypto, and in the long-term value of this industry.
That is precisely why we are able to absorb a loss of this size, immediately, with our own money.
We are working on the outstanding amount by buying the token assets through market and OTC channels. We will share more progress as soon as we can.
If you, as a user, are concerned, we encourage you to check funds on your Binance accounts. Wait for our initial Proof of Reserve for public verification, which is targeting Monday. You can reach out to our customer service with any questions.
Next, I want to give you an update on our understanding of the hack itself.
Our tech and security teams are still deep in the investigations of the hack.
This was not carried out by one person. Our initial investigation suggested that the security incident may have involved a compromised laptop, however our subsequent investigation has uncovered additional points of breach.
This was a complex attack. The attacker also used a self-destruct mechanism that destroyed tooling and traces as they went, making it more difficult for us to trace and investigate.
The attacker used a known multi-signature protocol EIP-7702, to obtain on-chain execution approval over a hot wallet. That delegation did not pass through our normal approval controls. That’s why we need to pause the withdrawal service to investigate, rebuild, and retest the entire infrastructure system.
So what are we doing now?
First, we are rebuilding the withdrawal service, and we are not switching it back on until it passes rigorous testing. We are very hopeful that users will be able to withdraw prior to our Sunday deadline, which is on track to be within 40 hours.
Second, we are conducting a full security review across the entire company — endpoints, cloud, key management, signing. Everything.
Third, we are completing the purchase of the remaining assets and will verify in our Proof of Reserves. We will be sharing a full Proof Of Reserves report by Monday, and we are hoping to give an initial view of Proof of Reserves before that.
Fourth, we are working with law enforcement, blockchain intelligence firms, token issuers and other exchanges to trace and recover stolen funds. We will do everything within our power to ensure that these bad actors will be held accountable.
Lastly, this is an industry-wide effort, and we are grateful to partners across the ecosystem who have moved quickly to help and support. We will weather this storm. Thank you for the support - and stay safe.
Hi everyone, firstly, I want to thank you all for the support. Difficult times like these are a great reminder how strong our industry is when we work together.
We are grateful to our partners that acted quickly to freeze the hacked assets; to global law enforcement, who we’re working hand in hand with to seek justice;
But most of all - we are grateful to our users for their patience and understanding.
Rest assured that we are working non-stop to resolve this, to make the users whole, and live up to your trust.
I want to be clear: WE ARE COMMITTED TO COVERING ALL HACKED LOSSES THROUGH OUR COMPANY FUNDS. Your assets are safe.
The good news is that we are recovering stolen assets for users.
Binance has reserved over $6.34B of company funds to cover the stolen assets. $5B of these funds are already held in the exact token assets that were impacted, such as USDC, USDT, BTC, ETH, BNB etc.
I know many of you are still asking the same question: how can Binance actually prove that your assets were not affected?
Let me be direct about the first point. We NEVER use any customer funds, so they are not impacted. What was affected in this incident was Binance's own hot wallet. User assets are held under Binance's established security architecture. The vast majority sit in cold wallets, and are only moved into a hot wallet when a user makes a withdrawal.
One more thing I want to share. Binance has always been built for the long term. Most of what we earn from day-to-day operations is held in crypto assets. We have kept a lot of them in the company, and reinvested them — into the business, and into security. Because we believe in crypto, and in the long-term value of this industry.
That is precisely why we are able to absorb a loss of this size, immediately, with our own money.
We are working on the outstanding amount by buying the token assets through market and OTC channels. We will share more progress as soon as we can.
If you, as a user, are concerned, we encourage you to check funds on your Binance accounts. Wait for our initial Proof of Reserve for public verification, which is targeting Monday. You can reach out to our customer service with any questions.
Next, I want to give you an update on our understanding of the hack itself.
Our tech and security teams are still deep in the investigations of the hack.
This was not carried out by one person. Our initial investigation suggested that the security incident may have involved a compromised laptop, however our subsequent investigation has uncovered additional points of breach.
This was a complex attack. The attacker also used a self-destruct mechanism that destroyed tooling and traces as they went, making it more difficult for us to trace and investigate.
The attacker used a known multi-signature protocol EIP-7702, to obtain on-chain execution approval over a hot wallet. That delegation did not pass through our normal approval controls. That’s why we need to pause the withdrawal service to investigate, rebuild, and retest the entire infrastructure system.
So what are we doing now?
First, we are rebuilding the withdrawal service, and we are not switching it back on until it passes rigorous testing. We are very hopeful that users will be able to withdraw prior to our Sunday deadline, which is on track to be within 40 hours.
Second, we are conducting a full security review across the entire company — endpoints, cloud, key management, signing. Everything.
Third, we are completing the purchase of the remaining assets and will verify in our Proof of Reserves. We will be sharing a full Proof Of Reserves report by Monday, and we are hoping to give an initial view of Proof of Reserves before that.
Fourth, we are working with law enforcement, blockchain intelligence firms, token issuers and other exchanges to trace and recover stolen funds. We will do everything within our power to ensure that these bad actors will be held accountable.
Lastly, this is an industry-wide effort, and we are grateful to partners across the ecosystem who have moved quickly to help and support. We will weather this storm. Thank you for the support - and stay safe.
73
96
548
64,463
I want to speak to you directly about what happened.
Bottom line - your money is safe, and we're covering every loss.
Our initial investigation suggests this security incident may have started with a compromised DevOps engineer's laptop. That gave an attacker access to a service container, where they submitted unauthorized withdrawal transactions.
To be clear: the attacker did not simply use one engineer's permissions, and this was not a single "one-click" action. It involved a more complex attack process. Our investigation has not attributed responsibility to any individual.
So far, we have found no evidence of any wallet private key leak.
We'll share a detailed technical post-mortem once the investigation is complete and every fact is verified - and publish an updated Proof of Reserves once remediation is complete.
What you need to know:
• Your funds are safe
• Binance will cover all losses from the SAFU fund and company funds
• Estimated total impact: ~$6.3B, with ~$3B frozen on-chain so far, in coordination with our blockchain partners
• No evidence of any wallet private key leak
• Deposits are unaffected and operating as normal
What we've done:
• Temporarily suspended withdrawals while we complete a security revamp of the withdrawal service and its related addresses
• Revoked the affected address authorizations
• Engaged law enforcement and blockchain intelligence partners to trace and recover funds
Our team hasn't stopped. We're working closely with law enforcement to ensure the matter is handled appropriately - and I'll share what I can, as soon as I can.
Bottom line - your money is safe, and we're covering every loss.
Our initial investigation suggests this security incident may have started with a compromised DevOps engineer's laptop. That gave an attacker access to a service container, where they submitted unauthorized withdrawal transactions.
To be clear: the attacker did not simply use one engineer's permissions, and this was not a single "one-click" action. It involved a more complex attack process. Our investigation has not attributed responsibility to any individual.
So far, we have found no evidence of any wallet private key leak.
We'll share a detailed technical post-mortem once the investigation is complete and every fact is verified - and publish an updated Proof of Reserves once remediation is complete.
What you need to know:
• Your funds are safe
• Binance will cover all losses from the SAFU fund and company funds
• Estimated total impact: ~$6.3B, with ~$3B frozen on-chain so far, in coordination with our blockchain partners
• No evidence of any wallet private key leak
• Deposits are unaffected and operating as normal
What we've done:
• Temporarily suspended withdrawals while we complete a security revamp of the withdrawal service and its related addresses
• Revoked the affected address authorizations
• Engaged law enforcement and blockchain intelligence partners to trace and recover funds
Our team hasn't stopped. We're working closely with law enforcement to ensure the matter is handled appropriately - and I'll share what I can, as soon as I can.
772
856
6,153
652,238
Our teams are aware of reports regarding a potential security issue and are actively investigating.
I want to be direct: user funds remain SAFE. Our security teams are reviewing all relevant information with urgency.
🧵
I want to be direct: user funds remain SAFE. Our security teams are reviewing all relevant information with urgency.
🧵
127
93
1,074
112,935
On withdrawals: our team is conducting security checks. Withdrawals will resume as soon as the issue is fully resolved.
Please remain cautious of scams - do not trust unofficial links, messages, or requests for account information. Official updates will come only through Binance channels.
Thank you for your patience. We'll keep you updated.
Please remain cautious of scams - do not trust unofficial links, messages, or requests for account information. Official updates will come only through Binance channels.
Thank you for your patience. We'll keep you updated.
7
15
182
28,358
Brazil is ranked #1 in crypto adoption by @chainalysis in 2026 - a key market shaping the future of the industry.
This week we applied for a VASP license in Brazil.
This is another step in our long-term commitment to regulatory compliance and expanding access to financial services.
ct.com/news/binance-b…
This week we applied for a VASP license in Brazil.
This is another step in our long-term commitment to regulatory compliance and expanding access to financial services.
ct.com/news/binance-b…
29
8
134
27,691
Double the leadership. Double the takes.
Yi He and Richard Teng join #BinanceBlockchainWeek in Bangkok for a conversation on where Binance — and the industry — goes next.
🗓 28–29 Nov 2026
Be there for the takes → binanceblockchainweek.com
42
15
161
26,030
• Build with Agent OS
• Understand with Binance AI
• Automate trades with Binance AI Pro
• Understand with Binance AI
• Automate trades with Binance AI Pro
31
9
82
18,999
Access to high-growth companies has traditionally been limited before they go public.
Pre-IPO perps are one way we're expanding access.
Now that Anthropic has filed for its IPO, it's great to see @binance leading in OI and volume for ANTHROPICUSDT.
Pre-IPO perps are one way we're expanding access.
Now that Anthropic has filed for its IPO, it's great to see @binance leading in OI and volume for ANTHROPICUSDT.
@AnthropicAI IPO filing puts pre-IPO perpetuals in focus.
Among the major venues, Binance accounts for 47.6% of open interest and 31.0% of cumulative volume since June 2.
38
6
98
19,616
We’re hearing more about bonds. But how well do we understand them?
What does yield tell you? Why do bond prices fall when interest rates rise?
Our new, free @BinanceAcademy course breaks down.
👉 binance.com/en/blog/educat…
What does yield tell you? Why do bond prices fall when interest rates rise?
Our new, free @BinanceAcademy course breaks down.
👉 binance.com/en/blog/educat…
67
18
125
18,514
As crypto becomes part of mainstream financial infrastructure, the standard expected of major platforms will keep rising. That's how it should be.
Compliance, security and user protection are the foundation of everything we build.
Compliance, security and user protection are the foundation of everything we build.
69
22
187
20,235
125 days to $1B 🏎️
Grateful to our users for making bStocks the fastest-growing tokenized stock product.
Grateful to our users for making bStocks the fastest-growing tokenized stock product.
A closer look at #bStocks’ $1B milestone 👇
⚡ Fastest to reach $1B
🔄 More tokenized-stock transfer volume than all peers combined since its June launch
🔗 DeFi utilization consistently above the sector
32
7
92
17,197
Higher bank deposit rates may influence stablecoin growth, but they’re only part of the picture.
The yields available to stablecoin holders within crypto matter too.
New research from the BIS explores how stablecoin growth interacts with traditional bank deposits, offering is evolving in a digital world.
The yields available to stablecoin holders within crypto matter too.
New research from the BIS explores how stablecoin growth interacts with traditional bank deposits, offering is evolving in a digital world.
Are stablecoins and bank deposits substitutes? New research finds that higher US bank deposit rates are associated with slower stablecoin growth. Findings suggest that deposit pricing could influence stablecoin adoption and banks’ future funding conditions bit.ly/4ib9fLY
25
5
77
15,524
Our October OTC Insights are out. 💁♂️
Policy tightened in September. Institutional demand didn’t.
BTC broke out of its three-week range, altcoin flows rotated sharply from August, and the OTC desk settled 5M BFUSD in under 10 minutes, compared with the usual 2 days.
Read more 👇 binance.com/en/blog/otc/72…
22
5
83
17,150
Blockchain made finance more open, global, and always on.
AI can make it easier to navigate.
At @binance, we’re building AI natively for finance: helping users understand markets, turn ideas into strategies, and giving developers the tools to build the next generation of financial applications.
Together, blockchain and AI can make finance more accessible and useful for everyone.
AI can make it easier to navigate.
At @binance, we’re building AI natively for finance: helping users understand markets, turn ideas into strategies, and giving developers the tools to build the next generation of financial applications.
Together, blockchain and AI can make finance more accessible and useful for everyone.
Day 24 of 100 Days of AI 🤖
What if the app already knew what you were about to ask?
Try Binance AI → binance.onelink.me/mL1z/ikq4808p/…
26
4
90
16,468