Key Progress Made in Platform Security Incident Response
On October 30, Binance's Co-Chief Executive Officer He Yi released a video statement via social media, providing the first detailed update on the recent security incident. She confirmed that the total value of assets impacted reached $6.3 billion.
$3 Billion Frozen Through Industry Collaboration
He Yi highlighted the role of industry-wide cooperation in her statement. Thanks to the rapid response and coordination of multiple trading platforms and security firms, approximately $3 billion of the affected assets have been successfully frozen, significantly mitigating the risk of further fund outflow.
Withdrawal Services Expected to Resume Within 42 Hours
Addressing user concerns about fund accessibility, He Yi provided a clear timeline: the platform anticipates reopening withdrawal functionality within the next 42 hours. She explained that the earlier suspension was a necessary precautionary measure to ensure a "clean" trading environment pending a comprehensive security review. The platform required time to complete:
- Reconfiguration and reinforcement of core security systems
- Individual verification and screening of affected accounts
- Full-network deployment of new security protocols
Commitment to Transparency and Follow-up Actions
Beyond the service restoration timeline, He Yi outlined the platform's subsequent action plan. She pledged full transparency in handling the incident, with concrete measures including:
Release of a Detailed Technical Security Audit Report
The platform plans to publish a comprehensive technical security audit report in the future, disclosing technical details of the incident, the response process, and systemic improvement plans to users and the industry. This report aims to rebuild trust and provide valuable defensive insights for the broader sector.
Continued Pursuit of Hackers
"We will not give up the pursuit of the hackers and will see this through to the end," He Yi stated firmly in the video. The platform's security team has established collaboration with law enforcement agencies across multiple jurisdictions and will continue employing technical means to trace the attack's origin while seeking legal accountability.
This statement is seen as a significant step for Binance in crisis communication and transparency. The market will closely monitor the actual restoration of withdrawal services within the 42-hour window and the depth of the forthcoming technical report.