Binance Responds to Hacking Questions: Keys, SAFU, and Withdrawal Returns Within 48 Hours

The Binance team publicly addressed the main questions from users about the hack. Clarifications were provided by Jessica Walker, the head of global media and content at Binance.

How the attack started

According to Walker, the attack began with an employee's computer, but it was not limited to a single device: it was an entry point after which the attackers acted according to a complex scheme typical for targeted attacks on crypto companies. Binance stated that it has already found important leads, mitigated risks, and continues the investigation. The company rejected the version that the attacker used access from one engineer or that everything happened due to "one click." Responsibility has not yet been placed on employees – Binance takes it upon itself and will focus on strengthening security.

Consequences

There are no signs of wallet private key leaks. The company promises to compensate all user losses from the SAFU fund and its own resources: clients will not lose anything. About $3 billion of affected assets are frozen on the blockchain. Binance is working with law enforcement and analytics companies, and the movement of funds on the network can be tracked publicly.

Deposits and withdrawals

Deposits are fully open. Withdrawals are suspended as a precautionary measure, and they are planned to be resumed within 48 hours; the exact time will be announced in an official statement. For users, this means that funds remain on the exchange, but they cannot be withdrawn immediately.

What's next

Binance promised to publish updates during the investigation and, after its completion, to disclose details of the incident and additional security measures. Walker emphasized that the company will not hide identified issues and will address them openly.