Binance announces preliminary investigation of security incident: approximately $2.85 billion in asset

Binance disclosed that an October 29 security incident involving roughly $6.34 billion in digital assets has resulted in about $2.85 billion being frozen or intercepted as of the report, with the figure subject to verification and market price fluctuations. The exchange's preliminary investigation found attackers breached an employee device through fake job interviews and malware downloads, then used internal AI tools and stolen credentials to reach wallet-signing services and bypass normal withdrawal processes, while also exploiting Ethereum's EIP-7702 authorization mechanism to grant a malicious contract partial execution rights over hot wallets. Binance said it will absorb the financial impact of the stolen funds and had replenished 98% of affected token assets by October 31, with purchases of less-liquid assets ongoing. The company has closed the identified attack entry points and is engaging independent security experts for further review. The scale of the incident and the novel EIP-7702 exploit vector make it a significant test of exchange security and reimbursement commitments, with attention now on recovery of the remaining assets and the independent audit's findings.