EmBlack

Dear Binancian,
We are writing to you directly about a security incident we are currently managing, and that you may have already become aware of.
The most important thing first: your funds are safe. Binance is covering the impact of this incident, not you.
We have publicly acknowledged a security incident affecting Binance. Our full official announcementis available on our official channels: we would encourage you to read it there for the primary source, and we will continue to update you throughout this process.
What you need to know:
Your funds are safe: Binance will cover all losses associated directly with this incident through the company funds, including the SAFU fundWe've already reserved over $6.34B in company funds to cover this incident, with $5B held in the exact impacted token assetsWe've found no evidence of any wallet private key leakDeposits and normal platform activity are unaffected
We're working with law enforcement, issuers, blockchain intelligence firms and industry partners to trace, freeze and recover funds. Around $3B has been frozen on-chain so far, thanks to our blockchain partners.
What we've done
As a precaution, we temporarily suspended withdrawals while we complete a security revamp of the withdrawal service and its related addresses. We revoked authorization on the affected addresses and engaged law enforcement to pursue those responsible.
What you'll hear from us next
We're committed to keeping you updated on three things over the next few days:
Withdrawal status: as soon as service is safely restored.Our full incident report: a detailed technical post-mortem, published once the investigation is complete and every fact is verified.Proof of Reserves: published after remediation, so you can verify for yourself that no user balance was affected.
Transparency is not something we do when it's convenient - it's how we show that our commitment to users is absolute. Words are easy; what matters is that every action behind them backs it up - funds covered, service restored, and a promise to show our work through an independent Proof of Reserves.
For verified updates, please follow Binance's official channels only. If anyone contacts you claiming to be Binance and asking for your password, OTP codes or seed phrase, it's a scam - we will never ask for those.
If you need help, contact us directly through official Customer Support.
We will weather this storm. Thank you for the support.
Binance
$BTC

Binance Suffers Largest Hack in History, Promises to Cover All Losses
Cryptocurrency exchange Binance was reportedly hit by what appears to be the largest hack in history on October 29th, with an estimated amount of stolen funds ranging from $1.7 billion to $5.7 billion.
Binance's founder, Changpeng Zhao, and the official Binance account confirmed the attack and announced that deposit and withdrawal functions have been suspended, and they are cooperating with law enforcement. They also pledged that the platform would fully cover the losses.
Stablecoin issuers Tether and Circle immediately froze approximately $3 billion in assets suspected of being involved. If the final figures are confirmed, this would surpass the $1.5 billion stolen from Bybit in 2025.
Market analysts believe that despite the significant losses, Binance has a strong ability to withstand risks due to its insurance fund and balance sheet.
#FedWatch #BinanceSquareFamily #Binance
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#Breaking News: Binance has stated that the recent hack was likely caused by a compromised laptop belonging to a DevOps engineer, but there is no evidence of private key leakage.
The estimated total loss from this incident is approximately $630 million.
#FedWatch #Binance