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An independent record of the October 2026 Binance hack
This line is our short summary of the quote below. The quote is the evidence.
Binance immediately initiated multiple containment measures, including suspending withdrawals to restrict further outflows, coordinating with partners to freeze affected tokens, and taking steps to revoke unauthorized permissions. These efforts froze a total of $2.85 billion in assets.
From this source: 29 October 2026 Binance Security Incident: Initial Findings and Response Update (Binance Blog, archived copy captured 2026-11-05), with all of its statements.
We are working on establishing a security research fund and targeted initiatives with leading AI companies, industry participants and security firms focused on AI security in blockchain environments.
We are engaging independent third-party cybersecurity experts to conduct a comprehensive review of the incident, validate our findings and recommend additional measures.
As of Nov 3, 2026, we have taken the following actions: * Rebuilt the affected wallet system in a new environment. * Rebuilt the affected internal AI tool and access controls. * Replaced affected devices. * Decommissioned credentials and tokens related to affected engineers.
Binance then received an internal alert regarding large-volume transfers and immediately began investigating.
Because the hot wallet used Multi-Party Computation (MPC), there was no single private key that could be used to immediately revoke the malicious EIP-7702 authorizations. The team therefore developed and executed a specialized procedure to revoke these authorizations, which required additional time.