8.41 Million Stolen SNX Tokens Worth $1.54 Million Recovered from Binance
Key Facts
Synthetix’s protocolDAO recovered about 8.41 million SNX tokens stolen from Binance and deposited them in its Safe wallet, according to a Synthetix post cited by TradingView on October 30, 2026. The Defiant valued the tokens at about $1.54 million when it reviewed the transaction on Friday. Transaction data show the transfer involved 8,405,741.58 tokens and was executed on October 29 at 7:03 p.m. Eastern Time. Synthetix said it had notified Binance of the recovery. It added that the tokens would be returned to the exchange if requested, meaning protocolDAO secured them in its wallet before they were returned to Binance.
The SNX recovery came amid efforts following the breach of Binance’s hot wallet, which the exchange said occurred at about 04:05 on October 30, UTC+8. Binance said it had found no evidence of a private wallet key compromise as of its update. In another update, it said an initial investigation indicated the incident may have been linked to a compromised laptop, but subsequent investigation revealed additional points of compromise. Binance estimated the incident’s total impact at about $6.3 billion and said it would cover losses with funds from the SAFU fund and company funds. It said users would not bear losses from the incident and that it would publish a proof-of-reserves update after remediation was complete.
Binance said its partners had helped freeze affected assets worth about $3 billion on-chain, and that the investigation was ongoing. In another statement, it said it had allocated more than $6.34 billion in company funds to cover stolen assets, including $5 billion held in the affected tokens. It added that the allocated amount covered about 80% of the affected amount. The Associated Press reported that Binance had allocated more than $6.34 billion in company funds and that partners had helped freeze about $3 billion. These figures reflect the scale of the remediation announced by the exchange following the incident, alongside the recovery of specific assets such as SNX.
The foundation said the contract itself had not been compromised, but it did not have owner or administrator permissions. It added that administrative permissions were handed over on-chain in 2025, so tokens sent to the contract could not be recovered. The fate of those assets differs from that of the SNX secured by protocolDAO in its Safe wallet, since the NEWT contract offers no way to recover them, according to the foundation. Newton Foundation attributed the inability to recover the tokens to the contract’s design and permissions, not to a breach.
On next steps, Binance said it expected to publish additional technical findings from the investigation within about 48 hours of its October 30 update, if they could be verified and their publication did not affect the investigation. It also aimed to begin gradually resuming withdrawals within about 34 hours and announced a plan to publish an initial proof-of-reserves result by November 2, 2026. The company said it would cover losses with its own funds and the SAFU fund, while tying publication of the reserves update to completion of remediation. The return of SNX tokens to Binance remains conditional on a request from the exchange, according to the Synthetix post. The post did not specify a date for completing the return.