Metric | Value |
|---|---|
Estimated impact | $6.3B |
Frozen onchain | ~$3B |
BTC price | $78,016 |
BTC 24h | -2.3% |
BNB 24h | -5.5% |
Binance confirmed on Thursday a security incident with an estimated total impact of $6.3B and says it will cover all losses from the SAFU fund and its own funds. Deposits and withdrawals remain suspended, and BNB is down 5.5% in 24h.
What happened
In its post on X, Binance said the initial investigation suggests a DevOps engineer's laptop was compromised. The attacker gained access to a service container and submitted unauthorized withdrawal transactions. The exchange has found no evidence of a wallet private key leak.
"The estimated total impact sits at around 6.3B. We have worked with blockchain partners to freeze affected assets, with ~3 billion frozen on-chain so far. Binance will cover all losses from the SAFU fund and the company's funds. User funds are safe," the exchange wrote.
Binance has revoked the affected address authorization and is working with law enforcement to confirm the identities of those responsible.
What comes next for users
- Deposits and withdrawals remain suspended while security checks and fund freezes continue
- An updated Proof of Reserves will be published once remediation is complete
- A detailed technical post-mortem will follow once the facts are verified, with no timeline given
- Updates come only through official Binance channels
Co-founder Yi He wrote on X that user funds are safe and that Binance will cover all hacking losses.
CZ's reaction
Former CEO Changpeng Zhao posted during the exploit: "User funds are safe! It does look like a hack on Binance. Appreciate the quick freeze from Tether and Circle. I don't manage Binance (.com) anymore, but as a shareholder, I expect all user funds will be fully covered."
Market reaction
Bitcoin was trading at $78,016 on Friday morning, down 2.3% in 24h and 4.6% over 7 days, according to CoinGecko data.
Coin | Price | 24h | 7d |
|---|---|---|---|
BTC | $78,016 | -2.3% | -4.6% |
ETH | $2,230.65 | -3.5% | -7.3% |
BNB | $707.17 | -5.5% | -5.0% |
XRP | $1.25 | -3.0% | -5.9% |
BNB, the exchange's own token, is the worst hit of the four: down 5.5% in 24h to $707.17, 48% below its $1,369.99 ATH. Bitcoin sits 38% below its $126,080 ATH, while ETH has the weakest week in the table at -7.3%.