Binance Says a Compromised Engineer’s Laptop May Have Opened the $6.3B Drain; No Evidence of Leaked Keys

What this means for Binance users right now Binance says withdrawals across its platforms stay paused while it finishes security checks, deposits are running normally, and any user losses will be covered by its emergency user-protection fund, SAFU, together with company funds. The exchange also says it will publish an updated Proof of Reserves – a public showing that the exchange holds enough assets to back customer balances – once its fix-up work is complete. That update lands on top of our earlier reporting on the suspected hot-wallet drain and on the freeze playbook that stopped more than $2.3 billion in tokens cold. The exchange’s own account In its Security Incident Update, dated October 30, Binance gave its first preliminary account of how the money moved.

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