![\"Binance\u2019s](\"https:\/\/s3-images.ctmedia.io\/media\/article-covers\/2026\/11\/01M6NZZB32AAV4WA4BCAVB6M4R\/hi-how-to-migrate-crypto-from-an-exchange-to-ledger-1.jpg\")
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Experts say blockchain records show repeated wallet drains but cannot establish Binance\u2019s internal signing controls or transaction limits.<\/p>\n
Binance\u2019s $6.3 billion security incident has left unanswered questions about how the exchange managed its hot wallets and limited the amount attackers could access.<\/p>\n
Binance co-CEO Richard Teng said<\/a> on Oct. 30 that the attack affected the exchange\u2019s own hot wallet. Most customer assets were held in offline cold storage and moved to hot wallets only when users requested withdrawals.<\/p>\n Wallet balances offer only a partial picture of an exchange\u2019s exposure to an attack. Public blockchain records can show funds moving but cannot establish the internal controls governing those transfers, CertiK analyst Jonathan Riss told Cointelegraph.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n