Binance said a DevOps engineer's laptop may have provided an entry point for an attacker who sent unauthorized withdrawal requests, with the exchange estimating losses at about $6.3 billion.
Binance's initial review flagged the computer as a possible point of entry. The exchange said the attacker used it to reach a service container and submit withdrawal requests Binance had not approved.
Binance put the estimated losses at about $6.3 billion. It said its review found no indication that wallet private keys had been exposed. The exchange also reported that on-chain freezes covered roughly $3 billion in assets connected to the incident.
During security checks, Binance said it temporarily halted deposits and withdrawals and revoked permissions for affected addresses. It said law enforcement and blockchain intelligence partners were working with it to trace and recover the funds.
Binance said the SAFU fund and company funds would cover losses, and that customer funds remained safe. After remediation, the exchange plans to issue updated proof-of-reserves figures. It also plans to release a detailed technical analysis after the investigation is complete and its findings are verified.
