Attackers drained one of Binance's hot wallets on Oct 29 in the largest crypto hack on record at about $6.3B, across 10 chains in under 4 hours. Binance says entry was a compromised DevOps laptop reaching its withdrawal service, with no private key leak found so far.

Attackers drained one of Binance's hot wallets on Oct 29 in the largest crypto hack on record at about $6.3B, across 10 chains in under 4 hours. Binance says entry was a compromised DevOps laptop reaching its withdrawal service, with no private key leak found so far.

Binance says it reserved over $6.34B in company funds to cover losses, with $5B already held in the affected tokens including USDC, USDT, BTC, ETH and BNB, and is buying the rest via market and OTC. About $3B is frozen on chain with issuers and partners, not yet recovered. It will cover losses via SAFU plus company funds and publish Proof of Reserves, promised by Monday.

For RSR, Reserve says Binance confirmed it will repurchase the missing 3.38B RSR promptly. The stolen RSR was already sold, Reserve contracts were unaffected, and Reserve says its treasury will not sell so Binance will buy on the open market via a market maker.

Withdrawals stay paused while Binance rebuilds its withdrawal system, hoped to reopen before Sunday, so RSR on Binance cannot be withdrawn until then. If you held RSR on Binance you need do nothing except follow Binance updates.