Binance puts the Oct 29 hot wallet drain at around $6.3B, first blaming a compromised DevOps engineer's laptop reaching a service container to submit withdrawals, with no private key leak found, then saying it uncovered additional points of breach in what it calls a complex attack, per Binance and its update.

Binance puts the Oct 29 hot wallet drain at around $6.3B, first blaming a compromised DevOps engineer's laptop reaching a service container to submit withdrawals, with no private key leak found, then saying it uncovered additional points of breach in what it calls a complex attack, per Binance and its update.

About $3B is frozen on chain so far, up from $2.54B, including 1.567B+ USDT and 800M+ USDC plus Ripple, Arbitrum and WLFI freezes. Frozen means blacklisted in place, not recovered, with about $3B still liquid mostly in BTC and ETH.

Binance says user funds are safe and it will cover all losses from SAFU and company funds. It says it reserved over $6.34B in company funds, with $5B already held in the exact impacted token assets, and is buying the rest via market and OTC, excluding frozen assets, to be verified via Proof of Reserves, per Binance.

Withdrawals stay paused for a security revamp while deposits work and outflows have ceased. Binance first guided 48 hours, then said it is on track to resume in 45 hours from its Oct 30 update.