PANews
PANews|Oct 30, 2026 14:47
[Binance Co-CEO: Withdrawals Expected to Resume Within 40 Hours, Full Proof of Reserves Report to be Released on Monday] Binance Co-CEO Richard Teng released a video update on the X platform stating that Binance is rebuilding its withdrawal service and will not reopen it until it passes rigorous testing. Withdrawals are expected to resume approximately 40 hours before the Sunday deadline. Binance will release a full proof of reserves report on Monday and hopes to announce preliminary results before then. Regarding the investigation, Richard Teng stated that the attack was not carried out by a single person. Initial investigations suggest the incident may have involved a compromised laptop, and subsequent investigations have uncovered other entry points. The attacker used a self-destruct mechanism to destroy tools and traces during the attack, increasing the difficulty of tracing the attack. The attacker also used EIP-7702 to obtain on-chain execution authorization for a hot wallet, a delegation that did not go through Binance's standard approval process.
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