BREAKING: Binance CEO Richard Teng Reveals New Details About $6.3 Billion Security Incident

Binance CEO Richard Teng has shared new details about the $6.3 billion security incident, describing it as a complex attack involving multiple security breaches.
According to Teng, attackers exploited Ethereum's EIP-7702 delegation feature to bypass Binance's normal approval controls and used a self-destruct mechanism to erase traces of their activity.
Key updates:
- Binance has committed more than $6.34 billion in company funds to cover all losses.
- Approximately $3 billion in affected assets has been frozen with industry partners.
- Binance says customer funds were not affected.
- Withdrawals are targeted to resume before Sunday, following security checks.
- A full Proof of Reserves update is expected by Monday.
Binance is working with law enforcement, blockchain investigators and industry partners to trace and recover the stolen assets.