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Binance Founder Says Exchange May Be Victim of Biggest-Ever Crypto Heist
Circle and Tether froze more than $2.3 billion in stablecoins as Binance investigated a possible security breach and withdrawals were suspended.
- On Thursday, Binance confirmed it is investigating a "potential security issue" after reports of more than $2 billion in digital assets moving from its hot wallets to an unverified address.
- Blockchain data indicates transfers originated from internet-connected hot wallets and were funded through Tornado Cash, a service that obscures transaction origins, leaving the total amount unclear.
- Tether CEO Paolo Ardoino and Circle CEO Jeremy Allaire froze more than $1.567 billion and $800 million in linked assets, while Binance founder Changpeng Zhao said he expects user funds to be "fully covered."
- Binance spokesperson Ross O'Leary confirmed the exchange "temporarily suspended withdrawals on multiple networks" as a precautionary measure, while Bitcoin and Ether prices dipped 2.5% and 3.5% respectively.
- Estimates of the potential theft range from $1.7 billion to $5.7 billion, while Binance warned users to avoid unofficial links or requests for account information during the investigation.
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Some estimates say hackers stole billions in crypto from Binance, the world's largest cryptocurrency exchange, during a cyberattack on Thursday.
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·Jersey City, United States
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Total News Sources58
Leaning Left6Leaning Right4Center12Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 27%
C 55%
R 18%
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