WuBlockchain
Binance co-founder He Yi said a cyberattack affected approximately $6.3 billion in assets. Around $3 billion has been frozen with help from industry participants, and withdrawals are expected to resume within the next 42 hours as the exchange rebuilds its security environment and reviews its wallets.
Why it matters
Binance says it will use its own funds to cover the stolen assets, with only a small portion requiring market purchases. The exchange described the incident as a complex, multi-vector attack.
Market impact
The scale of the reported loss and the withdrawal pause put attention on Binance’s security review and the frozen funds. The company says it will publish a technical security audit and work with law enforcement worldwide to track the hackers and trace the assets.
Frequently asked questions
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How much did the cyberattack affect?
Binance co-founder He Yi said approximately $6.3 billion in assets were affected.
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How much of the affected assets has been frozen?
Around $3 billion has been frozen with help from industry participants.
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When are Binance withdrawals expected to resume?
Withdrawals are expected to resume within the next 42 hours as Binance rebuilds its security environment and reviews its wallets.
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How does Binance plan to cover the stolen assets?
Binance says it will use its own funds, with only a small portion requiring purchases on the market.
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What steps does Binance plan to take after the attack?
Binance plans to release a technical security audit and work with law enforcement worldwide to track the hackers and trace the funds.
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