Binance’s investigation into the record $6.3 billion hack has uncovered additional security breaches beyond an initially suspected compromised employee laptop, co-CEO Richard Teng said Friday, adding details of the attack and setting a Sunday target to restore withdrawals.
In a video statement on X, Teng said the attackers used a self-destruct mechanism to erase evidence and exploited Ethereum’s EIP-7702 account-delegation feature to take control of a hot wallet without going through Binance’s normal approval procedures.
“This was a complex attack,” Teng said, adding that investigators had found additional points of breach but had yet to determine the full sequence of events.
CoinDesk’s earlier reporting detailed the account-delegation method, which examined how the attacker obtained wallet permissions and used malicious code to drain about $2.5 billion in minutes.
Binance has suspended withdrawals while rebuilding and testing its infrastructure. Teng said the exchange hopes to resume withdrawals by Sunday, within approximately 40 hours, and is reviewing its cloud systems, employee devices, private-key management and transaction-signing procedures.
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