A Binance shareholder is demanding that the platform explain the hack, accept responsibility and strengthen its security after losing approximately $6.3 billion from its hot wallets on October 29, 2026. The funds were drained across roughly 10 blockchains in about 20 minutes following an intrusion reportedly linked to a compromised laptop and a multi-month campaign combining social engineering, malware and Binance’s internal AI tools. The FBI attributed the attack to North Korean group TraderTraitor, which has links to Lazarus. Co-CEOs Richard Teng and Yi He pledged to cover all losses from corporate funds, while Binance set aside more than $6.34 billion for recovery and phased withdrawals resumed on November 1. The shareholder is now seeking a detailed post-incident report and publication of Proof of Reserves to verify that the vulnerabilities have been closed and the SAFU emergency fund can be rebuilt.
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