Binance has suspended both deposits and withdrawals while its team runs security checks, freezes stolen funds and works with law enforcement, co-founder and co-CEO Yi He wrote on X. A full post-mortem is promised once the investigation is complete.

The pledge turns earlier assurances that user funds are safe into a direct commitment: the exchange itself absorbs the losses. Founder Changpeng Zhao had said he expects users to be fully covered. Binance Alpha trading is also paused until the issue is resolved.

Binance's verified total of frozen assets stands at $2.54B, with Tether freezing over 1.567B USDT and Circle more than 800M USDC tied to the incident.

The final size of the theft is still unconfirmed. Arkham links 66 addresses holding about $5.88B to the attacker, though that figure reflects wallet holdings rather than a confirmed loss.