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An independent record of the October 2026 Binance hack
People. Co-chief executive officer of Binance
The statements below are attributed to this speaker by the cited sources. Appearing here is not an accusation.
co-CEO Richard Teng said the attacker "did not simply use one engineer's permissions, and this was not a single 'one-click' action."
Reviewer note: Event time is a date only. The 00:00 UTC time shown is a placeholder, the source gives no time of day.
In a video update on October 30, Binance co-CEO Richard Teng said he was hopeful that withdrawals would resume before Sunday, October 31.
Reviewer note: Event time is a date only. The 00:00 UTC time shown is a placeholder, the source gives no time of day.
Binance's other co-CEO, Richard Teng, said in a post on X that the breach was a "complex attack" that was not carried out by one person and included a compromised laptop as well as malicious software designed to delete evidence of its activity as it went along, "making it more difficult for us to trace and investigate."
Reviewer note: Event time is a date only. The 00:00 UTC time shown is a placeholder, the source gives no time of day.
The hackers were able to manipulate a system used to approve transactions to move money out of a Binance-controlled, internet-connected so-called "hot" wallet in a way that did not pass through normal approval controls, Teng said.
Reviewer note: Event time is a date only. The 00:00 UTC time shown is a placeholder, the source gives no time of day.
“Our investigation has not attributed responsibility to any individual,” he wrote.
The attacker used an EIP-7702 delegation to gain execution authority over a hot wallet, Teng said. That delegation “did not pass through our normal approval controls.”
Reviewer note: Event time is the time Cointelegraph stamped its live-blog entry (2:34 pm UTC), not a time stated by the speaker.
Binance is aiming to resume withdrawals within 40 hours and publish a full proof-of-reserves report by Monday, co-CEO Richard Teng [said]
Reviewer note: Event time is the time Cointelegraph stamped its live-blog entry (2:34 pm UTC), not a time stated by the speaker.
Teng also disclosed that the attacker used a “self-destruct mechanism” to destroy tools and traces during the breach, complicating the investigation.
This was not carried out by one person.
Richard Teng, Binance's co-chief executive officer, said the hack was carried out by more than one person, and the hackers used sophisticated methods to hide their tracks, such as a "self-destruct mechanism".