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Binance's Jimmy Su says halting withdrawals alone could not have stopped $6.3bn hack outflows

NewsFeeds update

Binance chief security officer Jimmy Su said the transaction-approval flaw exploited in the 29 October hack existed on-chain and bypassed the withdrawal system, so suspending withdrawals alone would not have stopped the outflows. He said revoking approvals took time because hot wallets use multi-party computation, and Binance has hired external experts to review the hack.

AltcoinsCoinNessAIBearish

Read the original on CoinNess

The story so far: South Korea FSC response to Binance hack

After a $6.3bn theft at Binance on 29 October, attributed by the FBI to North Korean hackers, Binance said it would restore withdrawals in batches and hired outside experts. Onchain Lens says the hacker has begun selling STRK, and that about $891m of the stolen funds may have been moved or laundered, with $5.45bn…

Headlines only, oldest first. Open a headline for the full update and the outlet it came from.

  1. Tree News says signs emerge of possible theft from Binance hot wallet

  2. Binance hot wallet suspected of losing more than $2.5bn in assets

  3. Binance ethereum hot wallet suspected of large abnormal outflow of about $2.53bn

  4. Tether freezes $971m in USDT in suspected Binance hack

  5. Circle freezes $823m in USDC amid suspected Binance hack

  6. He Yi says Binance investigating reports of potential security issue

  7. CZ says Binance user funds are safe as about $1.79bn in stablecoins is frozen

  8. Tether has frozen more than 1.567bn USDT

  9. Arkham links suspected Binance hacker to 50 wallets holding $5.61bn

  10. Binance says technical error is blocking some withdrawals

  11. Aave freezes lending market linked to stolen crypto tied to Binance

  12. Binance co-CEO He Yi says Ripple froze $200m tied to hack

  13. Address linked to suspected Binance hack borrows 19,762 ETH from Aave

  14. Attackers allegedly used EIP-7702 delegation to redirect Binance wallet to malicious code

  15. Yi He says Ripple and WLFI helped freeze assets as Binance halts withdrawals

  16. Binance said to still sweep new user deposits into compromised hot wallet

  17. Cointelegraph says Binance and Polymarket hacked on same day

  18. Address linked to suspected Binance breach sells about 4.7m UNI for ETH

  19. Elon Musk says 'Everyday is Zeroday' on Binance hack

  20. Binance hack of about $5.7bn may be largest crypto theft on record

  21. Aave freezes DAO-run V3 and V4 markets after Binance wallet reports

  22. Lookonchain says Binance hacker is selling PEPE, UNI and LINK for ETH

  23. Aave says it will keep monitoring and unfreeze DAO markets soon

  24. Binance reportedly recovers $823m in USDC after wallet exploit

  25. Zhao Changpeng says Binance loss may be slightly above $1bn and it will cover it

  26. Upbit warns users over Binance withdrawals and may restrict them

  27. Paxos freezes $7.66m in PAXG linked to suspected Binance hack

  28. Binance hot wallets keep sending funds, with over $6.26bn moved

  29. Bybit CEO Ben Zhou says platform unaffected and offers support to Binance

  30. Navi Protocol says user funds are safe after Binance incident

  31. Wintermute's Evgeny Gaevoy says under 20% of net assets exposed to Binance

  32. Binance hack puts DeFi on alert as $5.5bn in stolen assets raises contagion risk

  33. Binance moves funds from at-risk wallets to cold storage after major hack

  34. OKX founder Star calls for industry-wide real-time security and freezing system

  35. Crypto.com CEO says platform unaffected by Binance attack

  36. Ethena says collateral held off-exchange amid Binance security reports

  37. Developer 0xjustadev warned of EIP-7702 theft risk two years ago, X user says

  38. Developer Justin Kalland says Binance hacker may have slipped up over MetaMask gas use

  39. Binance says it is working to trace and freeze more stolen assets

  40. Ripple says it is freezing RLUSD tied to suspected Binance attack

  41. Arbitrum Security Council freezes about $30.5m linked to Binance exploit

  42. Drained Binance wallet was a proof-of-reserves wallet, ETH ratio may fall to 94%

  43. Hacker sells 7.77tn PEPE from Binance hot wallet for ETH, Ai Yi says

  44. Blockaid CEO Ido Ben-Natan says Binance hack may have abused signing system

  45. Shenyu says Binance attackers moved about $5.8bn in three minutes

  46. Specter says Arbitrum froze $30.5m in ARB and Paxos $215,700 in USDP

  47. Bonk Guy says Binance hack unlikely to trigger systemic risk

  48. SlowMist's Cos says Binance hacker used EIP-7702 to sweep hot-wallet tokens

  49. Binance 14 hot wallet revokes EIP-7702 authorisation after alleged hack

  50. Ai Yi links Binance hot wallet hacker to Kelp DAO attacker

  51. Arkham says it has verified 70 addresses linked to Binance hacker

  52. Arkham says address tagged as Kelp DAO hacker is Arbitrum council custody address

  53. Arbitrageur made about $3.47m in two hours during Binance attack, user says

  54. Benson Sun says stolen Binance Bitcoin faces limited near-term selling pressure

  55. Binance attacker sells UNI, ENA and five other tokens for 70,480 ETH

  56. Aave freezes most markets after Binance hot wallet attack, plans phased unfreeze

  57. ZachXBT says Binance hack believed to be work of North Korea's Lazarus Group

  58. Chainalysis puts Binance hack loss at about $5.91bn

  59. Derek Chiang says EIP-7702 has no flaw but aided Binance attacker

  60. Coinbase's Brian Armstrong says he has offered Binance help after hack

  61. Yi He says Binance is running security scans to protect user funds

  62. Binance says it will cover all losses from the incident and pauses deposits and withdrawals

  63. SlowMist CISO says Binance theft probe should focus on private-key leak and custom withdrawal tools

  64. Hackers linked to Binance attack move over $1bn in ETH to new wallets

  65. OKX CEO Star urges exchanges to cooperate on security

  66. Binance hacker starts selling STRK, Onchain Lens says

  67. Seven research says Binance hack may hit market makers and quant firms, rattling SOL and altcoins

  68. Binance.US CEO Steve Gregory says user funds are fully independent of Binance hack

  69. Bitwise CEO says client assets are safe amid Binance situation

  70. Binance says incident may involve compromised engineer laptop, losses about $6.3bn

  71. Bonk Guy says Binance hack echoes 10.11 and warns of a second leg down

  72. USDT0 restores USDT transfers between Ethereum and Tron

  73. CZ says Binance user funds are safe after security incident

  74. The Sandbox says SAND in users' own wallets unaffected by Binance incident

  75. Binance says SAFU fund and company money will cover all losses

  76. First Digital's Vincent Chok says FDUSD stolen in Binance attack is frozen

  77. Altcoins fall harder than BNB after Binance security incident

  78. Lagrange Foundation freezes LA tokens tied to Binance security incident

  79. He Yi says Binance deposits running normally and withdrawals due back within 48 hours

  80. SlowMist's Yu Xian links Binance hacker funds to Phemex breach wallets

  81. Ethena says USDe remains overcollateralised by more than $60m

  82. 1inch says Binance exploit addresses blocked, some stolen 1INCH cannot be frozen

  83. Binance hacker moves $38.8m in ETH to new wallet, still holds $1.12bn

  84. Binance hacker moves 18,270 BTC into 19 wallets

  85. Binance says no private key leak found yet after attack

  86. Binance says hacked staff computer was the starting point of attack

  87. Bobby Lee says stolen Binance Bitcoin is all but unrecoverable

  88. Musk replies with grimace emoji to post questioning Binance's loss-coverage pledge

  89. Geoffrey Kendrick says Binance hack may speed DEX adoption and favour UNI

  90. Zest Protocol pauses new borrowing after Binance incident

  91. Trader dimethyltryptamine.eth buys 45.08bn PEPE after Binance hacker sell-off

  92. Circle shares fall 5.1% premarket after freezing over $800m tied to Binance theft

  93. Pundi X Labs says 3.75m PUNDIX frozen in Binance hacker wallets

  94. Binance says about $3bn in affected assets frozen, withdrawals seen back within 45 hours

  95. Changpeng Zhao tells Musk Binance hack is no joke and asks for support

  96. Changpeng Zhao says Binance's SPCX shares are now worth over $1bn

  97. LlamaRisk proposes cutting Aave borrow caps after Binance hot wallet incident

  98. He Yi says $60m USDT Aave collateral not fully frozen as hacker took about $46m in ETH

  99. LlamaRisk proposes cutting Aave V3 and V4 caps, removing about $3.8bn of unused credit

  100. Binance earmarks $6.34bn to cover tokens after hot wallet breach

  101. Chainalysis says Binance theft funds show automated laundering pattern

  102. Synthetix says 8.4m SNX recovered from Binance hack

  103. Binance's He Yi says exchange is buying altcoins matching stolen assets for proof of reserves

  104. Bitcoin and ether options turn more bearish after alleged $6.3bn Binance hack

  105. CZ says Bitcoin showed surprising resilience as traditional markets fell further

  106. Nicolas Quatravaux says institutions bought $74,000-$78,000 Bitcoin puts after Binance hack

  107. Changpeng Zhao says token recovery appears to have begun

  108. Haseeb Qureshi says Binance hack response shows crypto has matured

  109. BNB Chain says its networks and bridge were unaffected by Binance security incident

  110. Newton Foundation says $3.5m in tokens locked in NEWT contract after suspected error

  111. Binance attacker's Bitcoin holdings of about $1.4bn exceed Coinbase's own treasury

  112. PancakeSwap says it was unaffected by Binance security incident

  113. Aave unfreezes V3 and V4 markets after Binance incident

  114. Aave lifts precautionary market freezes after Binance security incident

  115. FBI says it is assessing scope of Binance hack with partners

  116. Binance says stolen funds came from its own hot wallet as client money stayed in cold storage

  117. Binance's Richard Teng says withdrawals targeted to resume by 1 November

  118. Binance CEO says full proof-of-reserves report due 2 Nov and pledges hack compensation

  119. Bonk Guy says altcoins are holding up better than Bitcoin as selling pressure eases

  120. US Secret Service says it is working with Circle and others to trace Binance stolen funds

  121. Allora freezes ALLO stolen in Binance incident and returns it in full

  122. Gate CEO Lin Han calls for crypto security alliance and 48-hour withdrawal delay

  123. Trump says US investigating Binance hack, unsure on North Korea link

  124. Binance says it aims to resume withdrawals in stages within about 34 hours

  125. Caixin says Binance hack may open opportunity for DEXs

  126. Binance says investigation found further intrusion points in systems and hacked laptop

  127. Yi He says Binance publishes trading, fee and BNB burn data

  128. Axel Adler Jr. says Bitcoin is testing short-term holders' cost basis

  129. Address tagged as Binance hacker moves 120m TRX worth over $38m

  130. Coinbase and peers tighten security after Binance theft, Coinbase's Lunglhofer says

  131. Bitwise's Matt Hougan says Binance hack will not affect Bitcoin's price

  132. Researchers say AI agents are speeding up cyberattacks as Binance puts incident impact at $6.3bn

  133. SlowMist's Yu Xian says Lido seven-day APR rose to 4.2% after Binance hack

  134. Binance says it has restored 90% of assets lost in $6.34bn hack

  135. Binance SAFU fund address moves 7,500 BTC

  136. Hacker pays about $119m 'panic tax' swapping stolen funds

  137. Chainalysis says Ethereum reorg caused THORChain pause that slowed Binance fund laundering

  138. He Yi says Binance will use 50% of SAFU fund to cover losses

  139. FBI says North Korea behind theft of over $6bn in Binance crypto assets

  140. Trump says US would talk to North Korea if it is behind Binance hack

  141. THORChain co-founder Chad Barraford says THORNode data is publicly available after FBI request

  142. Binance says it has covered $6bn of hack losses

  143. Yi He says Binance's emergency team works round the clock after hack reports

  144. Binance plans to restore first-phase withdrawals from 14:00 to 09:00 UTC on 1 Nov

  145. Binance hacker sells $5m of PROM for $71, Lookonchain says

  146. Binance to resume withdrawals in phases after security issue

  147. Binance to resume first-phase withdrawals between 14:00 and 17:00 on 1 November

  148. Zhao Changpeng says US agencies helped track and freeze stolen Binance funds

  149. Binance says Bitcoin network is first restored for withdrawals after security incident

  150. Binance says withdrawals on 15 networks will resume in phases, starting with Bitcoin

  151. Binance updates proof-of-reserves address list, moves withdrawals to new wallets

  152. Binance attacker sells over 130 altcoins on EVM chains, Lookonchain says

  153. He Yi says Binance withdrawals are running smoothly for now

  154. Binance restores some withdrawals on Ethereum and BNB Smart Chain

  155. Binance says it has recovered 95% of assets stolen in hack

  156. Yi He says Binance is working with US firms and law enforcement to recover stolen assets

  157. Address tagged as Binance hacker moves 485,270 SOL worth about $46.2m

  158. Binance restores withdrawals on DOGE and Optimism networks

  159. Symbiosis says it spotted attempt to move Binance hack funds through its protocol

  160. Binance restores POL, USDT and USDC withdrawals on Polygon

  161. Binance says withdrawal levels stabilising at normal, expected on-chain activity

  162. SomaXBT says Binance attacker laundered about $242m via Tron in two days

  163. Binance processes $4.65bn of withdrawals after resuming service following $6.3bn hack

  164. South Korea's FSC calls emergency meeting with crypto exchanges after Binance hack

  165. Fu Sheng says Binance hack shows AI-era security weakness

  166. Suspected Binance hacker deposits $250,000 to Gate over 12 hours

  167. Gate says it has identified and frozen two accounts tied to Binance hacker

  168. Yi Lihua says Binance profit can cover hack losses

  169. Address linked to Binance attacker moves 40m XRP

  170. RUNE falls 20% as hackers are said to have routed Binance hack funds through Thorchain

  171. China's Mao Ning says she has no information on Binance attack or Trump's North Korea remarks

  172. Binance Bitcoin wallet balance falls for fourth day, down over 23,000 BTC since hack

  173. Arkham says Binance hacker moved $4m to three Binance deposit addresses

  174. Elliptic says Binance hacker laundered first funds, $2.2m in BTC, via CoinJoin

  175. Elliptic says about $3.24bn of stolen Binance assets remains in linked addresses

  176. Elliptic says no evidence North Korean hackers used AI in Binance theft

  177. Axel Adler Jr says Bitcoin fell again in October but market reaction stayed restrained

  178. Binance generates ZK proof for 31 Oct reserve snapshot as replenishment reaches 95%

  179. Suspected North Korean hackers make errors moving Binance stolen funds

  180. Darkfost says Lazarus crypto thefts total $11.9bn, 45% of North Korea's GDP

  181. SomaXBT says Arkham mislabelled Thorchain vault as Binance hacker

  182. Binance warns of scammers as withdrawals resume in stages

  183. Binance raises rebates for tier-2 and tier-3 market makers for a week

  184. CZ says Binance absorbed over $6bn hack loss from its own balance sheet

  185. Tether freezes over $1.5bn in USDT linked to Binance hack

  186. Dolomite keeps new Ethereum borrowing paused after Binance hack

  187. Binance sees $14.1bn weekly net outflows after hack as OKX gains $499m

  188. Binance sees $15.4bn net outflows over seven days, still holds $124bn

  189. Kim Yo Jong calls Binance incident a US political provocation, says Pyongyang is watching

  190. Wintermute says Bitcoin's next key support is $76,800

  191. Onchain Lens says Binance saw over $7bn of net outflows in 48 hours

  192. Star Xu says OKX tightened security after Binance hack

  193. OKX's Star says security is the exchange's first lifeline

  194. Murphy says Binance BTC balance fell 21,064 since withdrawals resumed

  195. South Korea's FSC reviews crypto exchange security after Binance hack

  196. Binance says more asset withdrawals resume from 04:00 UTC

  197. Binance says it will resume withdrawals in phases across several networks

  198. CFTC chair Michael Selig says Binance hack shows need for offshore exchange rules

  199. Binance uses about half of SAFU Bitcoin reserves with no refill timeline

  200. Lee Jae Myung calls for cross-government cybersecurity body after crypto thefts

  201. Bitcoin slides toward $76,000 after alleged $6.3bn Binance hack

  202. Binance sees about $1.6bn net inflows over 24 hours, DefiLlama data show

  203. Hyperliquid community account says DEXs may gain after Binance theft

  204. Binance lacks cyber insurance for $6.3bn theft, Bloomberg Law says

  205. Zhao Changpeng says crypto security incidents may keep recurring and seeks US government help

  206. CZ says Binance's swift response to attack kept user trust firm

  207. CZ says withdrawals may persist after Binance attack but some funds are returning

  208. CZ says crypto industry discussing security alliance and wants US government help on hacks

  209. Zhao Changpeng says Binance and crypto industry underinvest in security

  210. South Korea's FSC weighs raising exchange cold wallet custody to about 99%

  211. Binance says hackers used fake job interviews to breach staff and steal crypto

  212. Binance to boost AI security detection after wallet hijacking

  213. Binance hacker begins mixing stolen funds, about $800,000 mixed so far

  214. Yang Haipo says Binance breach exposed three avoidable failures

  215. Kim Yo Jong says Binance hack is extension of US hostile policy

  216. SlowMist's Cos says Binance theft was an APT attack, not just an engineer's error

  217. Binance hacker continues converting SOL to Bitcoin, Lookonchain says

  218. CZ says large-scale hack points to serious security flaw and urges transparency

  219. Zhao Changpeng says hostile posts during Binance incident were 'another attack on Binance'

  220. He Yi says stoking hostility after Binance breach erodes industry confidence

  221. Binance SAFU's 7,500 Bitcoin, worth about $572m, moved to unmarked wallet

  222. Yi He says Binance accepts all criticism and has rebuilt security permissions

  223. TraderTraitor hackers resume laundering Binance funds via THORChain, lifting RUNE

  224. Coinbase says over 99% of customer assets held in cold wallets

  225. Binance says 98% of stolen assets backfilled as reserves snapshot covers 44 tokens

  226. Changpeng Zhao says AI will make systems safer by exposing flaws

  227. Binance says more asset withdrawals to open in stages from 5 November

  228. Binance says withdrawals to resume on ETH, BSC, Base, TRX and other networks

  229. CZ says AI speeds up cyberattacks faster than banks can strengthen defences

  230. South Korea says no sanctions talks yet over North Korea's alleged Binance theft

  231. Binance hack prompts crypto industry to weigh Wall Street-style controls

  232. Fed and OCC ask US banks about cyber risks after Binance hack

  233. Binance asks Arbitrum governance to return frozen ETH and ARB

  234. Fed and OCC ask banks about impact of Binance attack affecting $6.34bn in assets

  235. Singapore's MAS says public should not deal with unregulated firms after Binance incident

  236. Binance says it will reopen withdrawals for more assets from 04:00 UTC on 6 November

  237. Binance says more asset withdrawals will resume in batches from 6 Nov

  238. Binance hacker reportedly stole $2.5bn in one transaction for about $15 in fees

  239. Binance says latest proof of reserves shows user assets backed 1:1

  240. Binance plans to restore withdrawals for HYPE and five other assets by next weekend

  241. Elliptic says address linked to Binance hack swaps $50m of XRP for Bitcoin

  242. TRM Labs calls $6.3bn Binance hack cyber warfare and warns North Korean attacks will continue

  243. Tom Robinson says Binance hacker swapped $175m in stolen altcoins for about 2,300 Bitcoin

  244. US State Department urges joint action on North Korean cyber threats after Binance hack

  245. Blockaid says EIP-7702 was key to $6.3bn Binance hot wallet theft

  246. Binance restores HYPE and APT withdrawals

  247. Binance restores Alpha withdrawals on BSC, Ethereum, Base and Arbitrum

  248. Zhao Changpeng says SAFU can protect user assets after Binance theft

  249. Binance's Jimmy Su says external review of 29 October incident under way

  250. Binance's Jimmy Su says halting withdrawals alone could not have stopped $6.3bn hack outflows

  251. Elliptic says North Korean hackers launder stolen Binance funds via meme coins

  252. Binance hacker suspected of moving $891m as $5.45bn remains held

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Every Altcoins update on NewsFeeds

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