Binance announced the preliminary investigation of a security incident: approximately $2.85 billion in assets were frozen or intercepted, and it will hire a cybersecurity agency for a comprehensive review

According to Binance's official disclosure, the security incident on October 29 involved approximately $6.34 billion in digital assets. As of the report's release, about $2.85 billion in assets had been frozen or intercepted, with amounts pending verification and affected by market price fluctuations.

Binance's preliminary investigation stated that the attackers infiltrated employee devices through fake job interviews and malicious software downloads, subsequently using internal AI tools and stolen credentials to access wallet signature services, bypassing normal withdrawal processes to initiate transactions. The attackers also exploited the Ethereum EIP-7702 authorization mechanism, allowing the malicious contract to gain partial execution rights over the hot wallet.

Binance stated that the company will bear the financial impact of the stolen funds; as of October 31, 98% of the affected token assets have been replenished, while the remaining assets with lower liquidity are still being purchased. The company has closed the identified attack vectors and is hiring independent security experts for further review.