Binance said its October 29 security incident involved unauthorized wallet-signing access and response steps including freezes, revocations and loss absorption.

Binance said a security incident on October 29 affected roughly $6.34 billion in digital assets and prompted a series of containment measures, including withdrawal suspensions, asset freezes and system rebuilds. In a report published November 3, the company said its preliminary findings point to unauthorized access to an internal wallet-signing service and abuse of Ethereum's EIP-7702 authorization mechanism.

According to Binance's initial findings report dated November 3, the final unauthorized transfer was completed at 23:56 UTC on October 29 and the wallet's delegation code was cleared at 00:10 UTC on October 30. Binance said the attack involved delegation of partial execution rights over a hot wallet to an attacker-controlled contract. The company described the findings as preliminary.

Binance said its response included suspending withdrawals, coordinating asset freezes, revoking credentials and permissions, rebuilding affected systems and strengthening endpoint and wallet controls. It said approximately $2.85 billion had been frozen or intercepted and that it would absorb user losses. The report also said roughly 98% of the affected assets had been replenished as of October 31.

The announcement follows a related recovery update published on November 2, which said users could complete independent verification after a zero-knowledge proof was generated for the October 31 proof-of-reserves snapshot. That update stated roughly 95% replenishment as disclosed on November 1, while the November 3 findings report cited 98% replenishment as of October 31. The material does not reconcile those figures, so they should be treated as separate company-reported statements rather than a single continuous timeline.

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