According to Binance’s initial findings, a software engineer downloaded a fake recruitment assignment containing malicious software after being contacted through a legitimate job-search platform. The attackers then used an internal artificial intelligence tool to take control of two other computers and obtain access that enabled software deployment within the wallet infrastructure. On October 29, they reached the wallet-signing service and launched transfers outside the normal withdrawal process, involving approximately $6.34 billion in assets. Suspending withdrawals did not stop every Ethereum transaction because wallet delegations established through EIP-7702 had to be revoked separately. Binance cleared those delegations at 00:10 UTC on October 30, rebuilt the affected systems and reported that approximately $2.85 billion in assets had been frozen or intercepted, subject to reconciliation.
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