Binance said in a post on its X account at 5:29 am Perth time (AWST) on 30 October 2026 (21:29 UTC, 29 October): "Our teams are aware of reports of a potential security issue and are actively investigating. User funds are completely safe."

The post said its security teams are reviewing all relevant information with urgency and warned users not to trust unofficial links, messages, or requests for account information. (source: Binance on X)

In a later post at 8:13 am Perth time on 30 October (00:13 UTC), Binance said: "We are working non-stop to resolve this issue. Binance will cover all losses."

It said all deposits and withdrawals are temporarily suspended while its team conducts security checks, freezes funds, and works with law enforcement, and that it will share a full post-mortem once the investigation is complete. (source: Binance on X)

BleepingComputer reported on 29 October 2026 (US Eastern time) that the statements followed reports of billions of dollars in cryptocurrency being transferred from multiple Binance hot wallets to a newly created Ethereum address.

According to BleepingComputer, Tether CEO Paolo Ardoino said on X that Tether had frozen more than $1.567 billion in USDT and Circle CEO Jeremy Allaire said Circle had frozen more than $800 million in USDC linked to the incident. BleepingComputer notes that Arkham Intelligence's figure of about $5.78 billion is the value of assets held across the wallets it tracks, not a confirmed amount stolen from Binance, and that at the time of its report Binance had not confirmed whether the transfers were unauthorized, how the suspected breach occurred, or the total value of any stolen assets. (source: BleepingComputer)