The business, the world’s largest crypto exchange by daily trading volume, posted a series of often contradictory messages on X, claiming that “user funds are completely safe” while also saying it would “cover all losses.”
Later, the corporation announced on its X account for Latin America that “the total estimated impact is about $6.3bn (€5.5bn). “We have worked with blockchain partners to freeze the affected assets, with around $3bn (€2.6bn) frozen on-chain to date,” it said.
That would be more than four times the sum involved in the biggest-ever theft of its sort to date: $1.5bn (€1.3bn) stolen from the Bybit platform in February last year – an attack linked to hackers affiliated with North Korea.
Binance stated all deposits and withdrawals had been “temporarily suspended while our team conducts security checks, freezes funds and works with law enforcement” at around 0030 GMT (0230 CEST) on Friday.”This figure may continue to rise as our teams work closely with law enforcement, issuers, blockchain intelligence firms and industry partners to trace and freeze more assets,” the company added.
In a statement on X, the firm said its initial investigation showed the attack was perpetrated via a “compromised laptop of a DevOps engineer” which gave the unauthorised party access to a “service container” and allowed for the execution of illegal withdrawal transactions.
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