---
title: "Binance CEO Says Platform Breach Was Not a 'One-Click' Attack"
description: "Withdrawals remain halted while deposits function normally, and approximately $3 billion in affected funds has been frozen onchain."
url: https://basisdesk.news/news/binance-ceo-teng-breach-not-one-click-attack
published: 2026-10-30T09:03:08.329Z
modified: 2026-10-30T09:03:08.329Z
section: Security & Hacks
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: bearish
tickers: [BTC, ETH]
tags: [binance, richard-teng, exchange-breach, onchain-freeze, withdrawals]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# Binance CEO Says Platform Breach Was Not a 'One-Click' Attack

Withdrawals remain halted while deposits function normally, and approximately $3 billion in affected funds has been frozen onchain.

## At a glance

- **What happened:** Binance CEO Richard Teng said the recent platform breach was not a 'one-click' attack as the exchange froze $3B onchain.
- **Why it matters:** A multi-billion-dollar breach has disrupted operations at the largest crypto exchange, leaving user withdrawals suspended.
- **Who is affected:** Binance account holders and market participants transacting on the platform.
- **What's next:** No next step announced.
- **Primary source:** [Teng Says Binance Breach Was Not a ‘One-Click’ Attack](https://thedefiant.io/news/hacks/teng-says-binance-breach-was-not-a-one-click-attack) — thedefiant.io

## Key points

- Binance CEO Richard Teng stated that the recent breach was not a simple 'one-click' attack.
- Withdrawals on the exchange remain suspended, though deposit services are operating as usual.
- Binance confirmed that roughly $3 billion in affected assets has been frozen onchain.

## Editorial remark

- **Context:** Binance suffered an exploit that prompted an immediate halt to platform withdrawals and an aggressive multi-chain effort to freeze compromised assets.
- **Impact:** Binance users face ongoing delays in withdrawing funds, though incoming deposits remain functional while $3 billion in assets remains frozen.
- **Watch:** Announcements regarding the resumption of standard withdrawal operations and further technical disclosure on the breach mechanisms.

Binance Chief Executive Officer Richard Teng stated that the recent platform security breach did not stem from a simple "one-click" attack [1]. The exchange reported that approximately $3 billion in affected assets has been successfully frozen onchain following the incident [1]. At the time of writing, major crypto markets reflect cautious sentiment, with $BTC trading at $77,819 and $ETH at $2,222.

Withdrawals on Binance remain paused while technical operations continue, according to statements reported on the incident [1]. In contrast, user deposits on the platform are currently operating normally [1]. The halt in asset outflows follows ongoing scrutiny surrounding platform reserves and risk controls in the wake of the intrusion [1].

## Exchange Operations and Asset Recovery

The containment efforts highlight substantial onchain intervention, with Binance confirming that roughly $3 billion of the targeted funds has been rendered immobile across network ledgers [1]. The ongoing suspension of withdrawals marks one of the most significant operational disruptions for the firm amid heightened market volatility [1]. The broader market impact also follows related industry developments, such as reports that [Standard Chartered Predicts Binance Breach Will Drive Trading Volume to DEXs](https://basisdesk.news/news/standard-chartered-binance-hack-dex-shift).

Despite deposits remaining open, Binance has not lifted the freeze on customer withdrawals [1]. Teng’s characterization of the event indicates that the breach involved vectors beyond a single unauthorized action or compromised endpoint [1]. Platform teams continue to manage the fallout as affected onchain assets remain secured under administrative freezes [1].

## FAQ

**Are deposits and withdrawals functioning on Binance?**

Deposits are operating normally, but withdrawals remain temporarily paused following the breach.

**How much in affected funds has been frozen?**

Binance reported that approximately $3 billion in affected assets has been frozen onchain.

## Sources

1. [Teng Says Binance Breach Was Not a ‘One-Click’ Attack](https://thedefiant.io/news/hacks/teng-says-binance-breach-was-not-a-one-click-attack) — thedefiant.io, 2026-10-30

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Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai