Binance says hackers bypassed security checks and erased evidence in an exploit valued at $6.3 billion, as the cryptocurrency exchange works toward restarting withdrawals on Sunday. Chief executive Richard Teng disclosed the broader scope of the incident, according to CoinDesk.
What Binance disclosed
The exchange has not yet provided further details in the supplied report about how the exploit unfolded or which assets were affected. Teng’s comments indicate that the attackers were able to get around parts of Binance’s security process and remove evidence that could have helped investigators reconstruct the breach.
The scale of the reported loss makes the incident significant for Binance customers and the wider crypto market. A crypto exchange is a platform where users trade and hold digital assets, while security checks are controls intended to identify or stop unauthorized transactions. Erasing evidence can make it harder to determine the sequence of events and assess the full impact.
Withdrawal restart and reserves report
Binance is targeting Sunday for the resumption of withdrawals. Withdrawals allow customers to move digital assets from exchange accounts to external wallets or other platforms. The planned restart is therefore a key operational step for users seeking access to their funds, although the supplied information does not confirm that the restart will occur or provide conditions for it.
The company also plans to publish its proof of reserves on Monday. Such a report is designed to show the assets an exchange holds against customer balances. Binance’s planned disclosure could give users additional information about the platform’s holdings after the exploit, but no figures from that report are available yet.
Moneyiar market picture
Moneyiar data at 2026-11-01 12:33 +03:30 showed BNB at $711.8666, up 1.08% over 24 hours but down 3.64% over seven days. SUN was $0.0152914, down 3.77% in 24 hours and 5.75% over seven days. MON stood at $0.0195050, up 1.22% daily and down 7.36% weekly, while XPL was $0.0729389, down 9.95% daily and up 1.73% weekly.
