Binance security breach: Company freezes around Rs 28,560 cr in assets, says it will cover all losses
Follow UsBinance has revealed that a security breach has led to an estimated loss of around $6.3 billion (around Rs 60,000 crore).
The cryptocurrency exchange said it has freezed $3 billion (around Rs 28,560 crore) worth of affected assets so far.
The company has assured users that they will not bear any losses from the incident.
Binance has revealed that a security breach has led to an estimated loss of around $6.3 billion (around Rs 60,000 crore). The cryptocurrency exchange said it has freezed $3 billion (around Rs 28,560 crore) worth of affected assets so far. The company has also assured users that they will not bear any losses from the incident. Binance said it would cover the entire amount using its Secure Asset Fund for Users (SAFU) and company funds. As a precaution, the exchange has temporarily stopped deposits and withdrawals while it completes security checks and works with law enforcement agencies to investigate the incident.
SurveyBinance suspects compromised laptop behind security incident
The company shared the details through a series of posts on X. According to Binance, its initial investigation suggests that the breach may have started with a compromised laptop belonging to a DevOps engineer. The attacker allegedly used this access to enter a service container and submit unauthorised withdrawal transactions.
Binance has clarified that it has found no evidence of any wallet private key being leaked. However, the investigation is still underway. The company said it would release a detailed technical report once the investigation is complete and all the facts have been verified.
Binance freezes $3 billion, promises to cover losses
Following the incident, Binance has been working with law enforcement agencies and blockchain intelligence firms to track and recover funds. The company has reported that around $3 billion worth of funds has been frozen so far.
“Binance will cover all losses from the SAFU fund and the company’s funds,” the exchange said in a post on X. It also assured users that their funds are safe.
Binance’s initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified. 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. We will also publish an updated Proof of Reserves once the remediation is complete. As an immediate precaution, Binance has: – temporarily suspended deposits and withdrawals while security checks are completed; – revoked the affected address authorisation; – engaged law enforcement and blockchain intelligence partners to trace and recover funds. Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice. Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions. https://t.co/ywB2mKFy0p
— Binance (@binance) October 30, 2026
Binance suspends deposits and withdrawals
Binance has temporarily suspended deposits and withdrawals. The company said the move was necessary to complete security checks.
It has also revoked the authorisation of the affected address. Meanwhile, its teams are working with law enforcement and blockchain partners to identify those responsible. Binance said its teams are working around the clock to resolve the issue. The company will also publish an updated Proof of Reserves report after the remediation is complete.
For now, Binance has asked users to follow its official channels for verified information. It has also advised customers with questions to contact its customer support team.
