Binance was drained on Oct 29 in a hot wallet attack put at roughly $5.8-6.3B, starting from a compromised DevOps laptop with additional breach points later found.

About $3B is now frozen on chain, including 1.567B+ USDT, 800M+ USDC plus Ripple, Arbitrum and WLFI freezes, with about $3B still liquid mostly in BTC and ETH. Frozen means blacklisted in place, not recovered.

Binance says user funds are safe, withdrawals are paused for about 45 hours for a security revamp while deposits work, and it reserved over $6.34B in company funds with $5B already held in the impacted token assets to cover the shortfall, verified later via Proof of Reserves, per Binance via CoinDesk.

Coinbase CEO Brian Armstrong said Coinbase blocked transfers to compromised wallets and offered help to Binance, saying "Moments like this call for the industry to work together," per Cointelegraph.

He added his team is doing everything they can to help and that "Crypto has been through many tough times, and has always come out stronger on the other side. This won't be any different," per WatcherGuru.

No original Armstrong post was in the sources read, only these relays; Reuters via source also says Binance is working with the FBI and U.S. Secret Service, but no direct agency or Binance confirmation was in the sources read.