UPDATE: Blockaid CEO suspects key misuse in Binance exploit
CIE News ·
Update to UPDATE: Binance freezes $2.54 billion following multibillion-dollar breach
Based on reporting by Cointelegraph; not yet independently confirmed.
Blockaid CEO Ido Ben-Natan suspects the multibillion-dollar Binance exploit involved manipulated signing infrastructure and private key misuse, following an earlier report that $2.54 billion was frozen.
Attackers may have drained billions of dollars from Binance by compromising the exchange's transaction-signing infrastructure through the misuse of private keys, according to Blockaid CEO Ido Ben-Natan on October 30, 2026. Ben-Natan drew comparisons between the suspected exploit mechanism and a previous incident involving Bybit, Cointelegraph reported.
As previously reported, Binance announced that $2.54 billion in assets have been frozen following the multibillion-dollar exploit. Binance indicated that more assets could be frozen as investigators continue tracking fund movements, while specific assets involved in the breach remain undisclosed.
Key facts
- Billions drained from Binance
- Key misuse suspected
- $2.54B in assets frozen
- Signing infrastructure manipulated
Read the original at Cointelegraph