Binance Reports $6.3 Billion Hot-Wallet Loss and Pauses Withdrawals
Binance says it will cover the reported hot-wallet losses through SAFU and company funds. Withdrawals remain paused while security checks continue.
Binance's October 30 security update reports about $6.3 billion in token losses from unauthorized hot-wallet withdrawals. Binance says its hot wallets were compromised at around 04:05 Hong Kong time on October 30, 2026 (20:05 UTC on October 29).
Withdrawals are suspended while Binance runs additional security reviews. Deposits and other unaffected services remain operational. Binance plans to reopen withdrawals in phases and targets a restart within about 34 hours, subject to security checks.
Binance says SAFU and company funds will cover the losses. It has set aside more than $6.34 billion, including $5 billion in the same tokens that were stolen, about 80% of the loss. About $3 billion has been frozen on-chain so far.
The initial investigation pointed to a compromised laptop, but Binance's investigation has since found additional points of breach. Binance says it has found no evidence that wallet private keys were leaked, and the cause is still under investigation. All figures above come from Binance's announcement.
Source: Official exchange announcement
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