Binance Security Incident: Withdrawal Status, Timeline and FAQs

As of Oct. 29, 2026, at 7:08 p.m. ET: Binance withdrawals remain paused while the exchange conducts security checks. Binance says user funds are safe. Its latest announcement, posted at 7:06 p.m. ET, also suspends Binance Alpha trading.

Are Binance Withdrawals Working?

No, according to Binance's latest withdrawal update before the time above. In its 6:33 p.m. ET post, the exchange said: “Withdrawals will resume as soon as the security issue is fully resolved.” It gave no restart time.

Separately, the 7:06 p.m. ET announcement said Binance Alpha trading was temporarily suspended as part of its security measures. That announcement is about Alpha, not a statement that all Binance trading has stopped.

What Does Binance Say About Customer Funds?

“User funds remain safe,” Binance said in the withdrawal update. That is the exchange's assurance, not an independent guarantee from The Defiant or confirmation that the security issue has been resolved.

The incident remains a suspected hack. In a 5:11 p.m. ET assessment, security firm Blockaid said the transfers looked consistent with unauthorized movements, but it could not yet rule out an internal treasury or operational sweep.

How Much Moved, and How Much Was Frozen?

Transfers are not a final loss total. An Ethereum transaction at 4:24:23 p.m. ET moved about 167,464 $ETH and 1.615 billion $USDT from the wallet Etherscan labels Binance 14. Analyst @mattiascaricato estimated at 5:08 p.m. ET that approximately $3.5 billion had moved across three Ethereum wallets: Binance 14, Binance 16 and Hot Wallet 34. That is an analyst estimate, not a Binance-confirmed loss.

The following freeze reports were published on Oct. 29. All times are ET:

• Tether: Onchain records show the recipient was blacklisted for $USDT at 5:01:35 p.m. Tether CEO Paolo Ardoino said at 5:25 p.m. that Tether had frozen more than 1.567 billion $USDT related to a potential Binance hack. Yi He separately cited approximately $971 million in Tether freezes at 5:26 p.m. The two Tether figures should not be added together.
• Circle: CEO Jeremy Allaire said at 5:18 p.m. that Circle had frozen more than 800 million $USDC associated with the incident, in coordination with law enforcement.
• Other tokens: Binance co-founder Yi He said at 6:22 p.m. that $27 million in USD1 and 48 million $WLFI had been frozen, valuing the $WLFI at about $2 million.

A freeze restricts movement of affected tokens; it does not itself return them to Binance or its customers. These reported freezes should not be subtracted from the transfer estimate to manufacture a net loss or recovery figure.

Why Do Wallet Permissions Matter?

The relevant Ethereum feature, EIP-7702, lets a key-controlled wallet run delegated software. The permission can persist after the transaction that installs it, allowing later calls to perform actions the software permits without a fresh signature from the wallet's key.

Here, the delegation transaction preceded the Binance 14 outflow. A later call through Binance 14 also moved 780 million $USDC from Hot Wallet 34. The authority therefore reached assets in another wallet, not just Binance 14's own holdings.

A repeat Binance 14 sweep at 5:04:23 p.m. ET moved another 1,699.92 $ETH to the same recipient. Freezing the recipient's $USDT had not disabled the source wallet's delegated software. The transaction sequence does not establish how the original authorization was obtained.

What Happened When?

All entries are Oct. 29, 2026, ET. “Onchain” times are transaction timestamps; “Post” times are when a statement was published, not necessarily when the underlying action occurred. The timeline records the sequence, not the duration of every restriction.

Is Binance.US Affected?

Binance.US said at 5:41 p.m. ET that it was not affected by the reported Binance.com security incident. It described itself as a separate, independent platform and said customer funds and services were secure and operating normally. That is Binance.US's own statement; Binance.com's withdrawal pause should not be presented as a Binance.US pause.

What Remains Unknown?

As of the time above, the unresolved questions include the final loss, if any; how the wallet authorization was obtained; who controlled the recipient accounts; how much frozen value will actually be returned; and when withdrawals and Alpha trading will resume. The visible transfers and issuer statements do not settle those questions.

Which Report Should I Read?

• Exchange response and scope: The main incident report follows Binance's statements and transfers from the three Ethereum wallets.
• Frozen versus recovered: The Tether report explains the blacklist action and the issuer's reported freeze total.
• Technical mechanism: The wallet-permission explainer traces how calls through one account moved another wallet's assets.
• Trading prices: The $ETH dislocation report examines a roughly 20% Uniswap-pool premium over Binance around 5 p.m. ET—not an $ETH price applying across all venues or a guaranteed arbitrage return.
• Dated clarification: The Oct. 29 takeover-post check shows how a social post recycled Changpeng Zhao's Nov. 8, 2022 FTX acquisition message with Binance substituted for FTX. It is not evidence of a Binance acquisition.