Cryptocurrency exchange Binance made a new statement after the major cyber attack yesterday. While the company shared the first findings about how the attack was carried out with the public, it promised that the users would be compensated for their damages.
According to Binance's statement, the total impact of the attack is approximately 6.3 billion dollars. The company reported that as a result of its work with its business partners in the blockchain industry, approximately $3 billion in assets have been frozen on the chain so far.
The stock exchange announced that all losses incurred due to the attack will be covered from the SAFU fund and the company's own resources.
The attack may have started from an engineer's computer
Binance stated that initial investigations indicate that the attack may be linked to the seizure of a DevOps engineer's laptop.
According to the company, the attacker gained access to a service container through the captured computer. Unauthorized cryptocurrency withdrawals were then sent through this system.
Binance CEO Richard Teng also emphasized in his statement that the attack was not carried out by using the powers of a single employee or a simple transaction.
Teng stated that the attack involved a more complex process and said:
"The attacker did not just use the powers of an engineer. This was not a one-click operation. It is a more complex attack process."
The CEO also underlined that no one has been held responsible in the investigation yet.
No evidence of leaked private keys found
One of the most important details in Binance's statement was about the private keys of the wallets.
The company announced that in the investigations carried out so far, there is no evidence that the private key of any wallet has been leaked.
This statement indicates that the attack may be related to unauthorized access to the infrastructure that processes withdrawals, rather than directly capturing private keys.
However, Binance stated that the investigation has not yet been completed and details regarding the exact cause of the attack will be shared after the investigation is completed.
The company plans to publish a comprehensive technical report containing all confirmed findings.
Richard Teng: We will cover all losses of users
In a separate statement, Binance CEO Richard Teng addressed users directly and emphasized that their funds are safe.
“Your money is safe and we cover all losses,” Teng said. he said.
It was stated that Binance will use the company's own resources, as well as the SAFU fund created to protect user assets, to cover the losses.
The CEO stated that they are working with law enforcement agencies, blockchain analysis companies and industry partners to track and retrieve the assets affected by the attack.
Reminding that $3 billion of the total impact of approximately $6.3 billion has been frozen, Teng stated that the studies are continuing.
When will withdrawals be opened?
Binance announced that it has temporarily stopped the withdrawal service as part of security measures.
The company stated that the authorizations given to the addresses affected by the attack were revoked and comprehensive security checks were carried out on the withdrawal infrastructure and the relevant addresses.
While Binance's public announcement stated that deposits and withdrawals were temporarily suspended, Richard Teng said in his own statement that deposits were not affected and continued normally.
It is planned that withdrawal transactions will be restarted after the security works are completed. The company has not shared an exact date yet.
Binance also announced that it will release an updated Proof of Reserves report once the security issues are resolved.
Richard Teng stated that they are in close cooperation with law enforcement to identify the people who carried out the attack and bring them to justice.
Binance called for developments regarding the attack to be followed only through the company's official channels.
