Binance says the Oct 29 breach drained hot wallets with an estimated $6.3B impact, of which about $3B in affected assets is frozen onchain so far, per Binance and update.

Binance says the Oct 29 breach drained hot wallets with an estimated $6.3B impact, of which about $3B in affected assets is frozen onchain so far, per Binance and update.

Co-CEO Richard Teng says it started from a compromised DevOps engineer's laptop reaching a service container to submit unauthorized withdrawals, was not a single "one-click" action, with additional breach points later found and no wallet private key leak found so far, per _RichardTeng and Binance.

Yes, withdrawals stay paused while Binance completes a security revamp and testing, expected back in about 45 hours from the Oct 30 update, while deposits work normally and outflows stopped when withdrawals were paused, per Binance.

Binance says user funds are safe and it will cover all losses from SAFU and company funds, adding it reserved over $6.34B with $5B already held in the impacted token mix, per Binance and Binance.