Jupiter Lend USDC withdrawals are open again, Velocity pauses new deposits

On 30 October 2026, Binance wrote on X that unauthorized withdrawals came to about $6.3 billion. A later post the same day names entry points besides a DevOps laptop.

Withdrawals at Binance remain paused, according to that later post on 30 October. Deposits continue under the same post.

On the afternoon of 30 October, Kamino reopened borrowing in the SOL/BTC market. USDC withdrawals on Jupiter Lend have been available again since 30 October, according to Jupiter Earn. Since 31 October, Velocity has paused new deposits and new accounts.

Binance corrects the first explanation

In its first detailed post on 30 October, Binance traced the withdrawals to a DevOps engineer’s laptop. From that laptop, Binance wrote, the attacker reached a service container and submitted the withdrawals. The same post says Binance found no evidence of a leaked wallet private key.

Binance estimates the damage at about $6.3 billion. About $3 billion is frozen on-chain, according to Binance. Binance says it will cover the losses from the SAFU fund and from company funds.

Binance calls user balances intact. The same post suspends deposits and withdrawals for the time being.

In the next update, Binance wrote that the first review had pointed to a compromised laptop. Further work had found additional points of breach. The laptop alone no longer explains how the attacker got in.

Binance calls the attack complex. It says more detail will follow once the facts are checked. According to Binance, reopening withdrawals remains on a 45-hour timeline.

The post does not set a clock time. Outflows ended when withdrawals were paused, according to Binance. Deposits continue under that update.

On 29 October, Jeremy Allaire wrote on X that Circle had frozen more than 800 million USDC tied to the incident. The freeze was coordinated with law enforcement.

The same evening, Paolo Ardoino wrote that Tether had frozen more than 1.567 billion USDT. He ties the sum to a possible hack of the Binance exchange.

Company funds set aside

In a further post on 30 October, Binance wrote that more than $6.34 billion in company funds had been reserved. Of that, $5 billion is already held in the tokens that were hit.

Binance is buying the rest on the market and over the counter so the holdings match the missing tokens. Binance says this can take longer where liquidity is thin and where over-the-counter settlement takes time.

Those sums leave out frozen funds, according to Binance. Binance says recovery of affected balances for users has started. An updated proof of reserves is to follow once the remediation is finished.

These are Binance’s figures. No independent final account has been published.

On a check of 30 October 2026, this post was Binance’s latest.

Kamino blocks a SOL wallet

On 29 October, Kamino wrote on X that the protocol was unaffected by the Binance incident for the time being. As a precaution, borrowing in the SOL/BTC market was temporarily paused.

Further updates, Kamino wrote, would come only through Kamino’s own posts on X.

Marius, a Kamino co-founder, wrote later that evening that major collateral had been checked with issuers and partners. He saw no exposure to the hack and no gaps in backing.

According to Marius, Kamino blocked the attacker’s SOL wallet from Kamino’s infrastructure within five minutes of identifying it. He also describes the pause in the SOL/BTC market. He wrote that he expected borrowing to resume shortly.

A check on the morning of 30 October still showed the pause post as Kamino’s latest own post.

The withdrawal crunch on the morning of 30 October

During the night of 30 October, Jupiter Earn wrote that Jupiter Lend had not been affected. It said Jupiter Lend held no funds at Binance.

That morning, Jupiter Earn wrote of a liquidity crunch on withdrawals. The cause, it said, was broader market conditions.

Withdrawals process again as users deposit or repay loans, according to Jupiter Earn. Jupiter Earn calls the crunch normal for an event of this kind. The protocol was working as designed.

Funds were intact, Jupiter Earn wrote. In a reply the same morning, it said no funds were held at Binance and nothing had been lost.

Jupiter Earn attributes the delay to the market’s reaction to the news. That is Jupiter Earn’s account, not an independent audit.

A check on the evening of 30 October, before the later update, found the same state.

Update (30 October 2026): SOL/BTC borrowing is open again

On 30 October, Kamino wrote on X that borrowing in the SOL/BTC market had resumed. According to Kamino, the team watched on-chain activity during the pause and found no immediate risk. Kamino says it remained unaffected throughout.

Deposits, withdrawals, and repayments kept processing normally, according to Kamino.

On Jupiter Lend, the evening check on 30 October had not yet found a newer post. At that point, the crunch post and the reply after it were the latest word.

Update (31 October 2026): USDC withdrawals are open, Velocity pauses deposits

On 30 October, Jupiter Earn wrote that the liquidity crunch on Jupiter Lend had ended. According to Jupiter Earn, USDC withdrawals are available again because liquidity was replenished and the utilization spike came down.

The post speaks only of USDC. That is Jupiter Earn’s account, not an independent audit. A check on 31 October found this post as Jupiter Earn’s latest own post.

On 31 October, Velocity announced a precautionary pause on X after the Binance security incident. The protocol is not taking new deposits for the time being. Opening new accounts is paused as well.

According to Velocity, the protocol has not been hacked or compromised. Withdrawals are running. Existing accounts and open positions are unaffected.

Velocity says the pause is meant to keep stolen funds out of the protocol. It expects to reopen deposits shortly and to post an update.

Velocity is the former Drift. Velocity announced the new name on 1 July 2026.

A check on 31 October found the pause post as Velocity’s latest own post.

What to watch

Whether Binance reopens withdrawals on the 45-hour timeline. The latest post on 30 October is about reserved funds and recovery.
Which further entry points the investigation names. Binance says a technical post-mortem will follow once the review is finished.
Whether the first finding on private keys still holds. Later posts do not repeat it.
The address of the blocked SOL wallet. Marius’s post of 29 October does not include it.
Whether Velocity reopens deposits, and whether new accounts reopen at the same time. The post of 31 October expects deposits shortly and gives no date. The check on 31 October found no later own post.
Whether Jupiter Earn states a status for assets other than USDC. The post of 30 October speaks only of USDC.

Sources

Binance — Post on X, initial investigation, 30 October 2026, 3:25 a.m. Berlin. DevOps engineer’s laptop, service container, no evidence of leaked private keys, damage about $6.3 billion, about $3 billion frozen, coverage from the SAFU fund and company funds, deposits and withdrawals suspended. The post links the announcement.
Binance — Security Incident Update, linked from the post of 30 October 2026, 3:25 a.m. Berlin. A fetch of the page on 30 October returned no readable body text. The wording quoted here is the post’s.
Binance — Post on X, investigation update, 30 October 2026, 9:47 a.m. Berlin. Further points of breach besides the laptop, complex attack, coverage from the SAFU fund and company funds, withdrawals on a 45-hour timeline, deposits unaffected, about $3 billion frozen, outflows ended with the pause.
Binance — Post on X, reserved company funds, 30 October 2026, 11:55 a.m. Berlin. More than $6.34 billion in company funds reserved, $5 billion of that in the affected tokens, the rest via the market and over the counter, sums excluding frozen funds, $3 billion frozen, recovery started, proof of reserves after remediation.
Kamino — Post on X, 29 October 2026, 11:03 p.m. Berlin. Unaffected for now, borrowing in the SOL/BTC market paused as a precaution, further updates only via Kamino on X.
Marius, Kamino co-founder — Post on X, 29 October 2026, 11:43 p.m. Berlin. Collateral check, no affected holdings, no backing gaps, attacker’s SOL wallet blocked from the infrastructure within five minutes, pause, resumption expected shortly.
Jupiter Earn — Post on X, 30 October 2026, 12:32 a.m. Berlin. Jupiter Lend not affected, no funds at Binance.
Jupiter Earn — Post on X, liquidity crunch, 30 October 2026, 10:01 a.m. Berlin. Withdrawal crunch from market conditions, processing resumes as users deposit or repay, protocol working as designed, funds intact.
Jupiter Earn — Reply on X, 30 October 2026, 10:14 a.m. Berlin. No funds at Binance, nothing lost, market reaction to the news.
Jeremy Allaire, Circle — Post on X, 29 October 2026, 10:18 p.m. Berlin. More than 800 million USDC frozen, with law enforcement.
Paolo Ardoino, Tether — Post on X, 29 October 2026, 10:25 p.m. Berlin. More than 1.567 billion USDT frozen, tied to a possible Binance hack.
Kamino — Post on X, resumption, 30 October 2026, 3:50 p.m. Berlin. Borrowing in the SOL/BTC market resumed after further monitoring. No immediate risk, Kamino unaffected throughout. Deposits, withdrawals, and repayments processed normally.
Jupiter Earn, second check — public posts, read 30 October 2026, 9:15 p.m. Berlin. At that time, no further post on the incident after the crunch post at 10:01 a.m. Berlin and the reply at 10:14 a.m. Berlin.
Jupiter Earn — Post on X, end of the crunch, 30 October 2026, 11:16 p.m. Berlin. Liquidity crunch ended, USDC withdrawals available again, liquidity replenished, utilization spike down. The post quotes the crunch post from the same morning.
Jupiter Earn, check — public posts, read 31 October 2026, 1:40 p.m. Berlin. The post on the end of the crunch is the latest own post.
Velocity — Post on X, pause, 31 October 2026, 2:09 a.m. Berlin. New deposits and new accounts temporarily paused after the Binance incident, to keep stolen funds out. Not hacked and not compromised, withdrawals running, existing accounts and open positions unaffected. Reopening shortly, update promised, no date.
Velocity, check — public posts, read 31 October 2026, 1:40 p.m. Berlin. The pause post is the latest own post. No post on a reopening was there.
Velocity — Post on X, new name, 1 July 2026, 5:00 p.m. Berlin. Drift is now called Velocity.