Binance's statement on the $6.3 billion theft, read in full
The company's official announcement on the October 29 breach, read within its declared limits.
Tuesday, 3 November 2026
On October 29, 2026, at 20:05 UTC, Binance’s online digital wallets were compromised. This is stated by the company itself in a statement published on its support website, which quantifies the theft at approximately $6.3 billion in tokens. The same document specifies that, since then, approximately $3 billion have been frozen on-chain, and that the company has set aside more than $6.34 billion of its own funds to cover losses suffered by users.
The statement is sparse in its technical description of the events: date and time of the intrusion, amount stolen, amount frozen, funds set aside. It does not go into detail on how the intrusion occurred, nor does it provide an independent analysis of the vulnerabilities exploited. The company explicitly states that technical verifications and the investigation into the methods of the breach are still ongoing, a formula that defers a complete reconstruction of the facts to a later point.
This is the first limitation to note: the document is a self-declaration by the party involved. The figures — the $6.3 billion stolen, the $3 billion frozen, the $6.34 billion set aside — are numbers reported by Binance about itself, with the statement not citing verification by a third party, an external auditor or a regulatory authority. This does not mean the figures are unfounded, but that at present they represent the company’s own version of the damage suffered and its own capacity to address it.
The document itself notes, among the elements of operational normalization, the gradual resumption of withdrawals after the attack: a fact that the company presents as a sign of the system’s resilience, alongside the figures on frozen funds. What remains explicitly open, in the same statement, is the question of the technical cause of the intrusion into the digital wallets — the point that the text defers to future verifications.
The significance of the matter lies precisely in this gap. Binance communicates precise figures on the extent of the damage and on its own financial response — the setting aside of more than $6.34 billion exceeds, in the figure reported by the company, the amount actually stolen — but does not yet offer, in the available document, a technical explanation of the breach. As long as that investigation remains open, as stated by the company, the statement should be read for what it is: the interested party’s version of the extent of the damage, not an independent reconstruction of how it was possible.