Binance Finds Wider Breach in $6.3 Billion Hack and Targets Sunday Withdrawal Restart

Binance’s probe into the record $6.3 billion hack has uncovered additional breaches beyond the employee laptop first suspected. Co-CEO Richard Teng said in a video statement on Friday that the attackers used a self destruct mechanism to wipe out evidence. They also exploited Ethereum’s EIP-7702 account delegation feature to take control of a hot wallet without passing Binance’s normal approval steps. Teng called it a complex attack and said investigators have not yet pieced together the full sequence of events.

Binance Withdrawals Restart Plan

Withdrawals are suspended while the exchange rebuilds and tests its infrastructure. Teng said Binance hopes to bring them back by Sunday, roughly 40 hours away. The company is reviewing its cloud systems, employee devices, private key management and transaction signing procedures.

How Binance Will Cover the $6.3 Billion Loss

Teng repeated that Binance will cover all losses with company funds. It has reserved more than $6.34 billion, including $5 billion already held in the affected cryptocurrencies. The rest is being bought through exchanges and over the counter markets.

Proof of Reserves and Customer Fund Questions

Teng said the attack targeted Binance’s own hot wallet and not customer funds. However, a separate review of Binance’s reserve data found that the compromised wallets had earlier been listed among the assets backing customer balances. Binance plans to release an initial proof of reserves update first, followed by a full report on Monday. It is also working with law enforcement, blockchain investigators and token issuers to recover the stolen assets.