Binance Founder Says Exchange May Be Victim of Biggest-Ever Crypto Heist
Stablecoin issuers froze about $2.4 billion as Binance said it was investigating whether user funds were affected.
- 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.
118 Articles
118 Articles
Binance recorded departures of more than $5.5 billion in cryptocurrencies; it investigates hacking and strengthens security measures on its platform.
Musk Warns "Everyday Is Zeroday" As Rumors Swirl On News Of A Massive, $5.7 Billion Binance Hack
Elon Musk fired off two cryptic words as reports of a staggering Binance breach sent crypto markets into freefall, with estimates of the damage ranging so wildly that nobody yet knows how bad it actually is.
The Daily Advance
Binance reports 'potential security issue' as stablecoin issuers freeze millions in funds
Binance, the world's largest cryptocurrency exchange, is investigating a potential security issue that appears to be a hack. The extent of the damage is unclear, but stablecoin issuers froze funds Thursday evening. Binance assures users their funds are safe and…
Binance reports ‘potential security issue’ as stablecoin issuers freeze millions in funds – WTOP News
LOS ANGELES (AP) — Binance, the world’s largest cryptocurrency exchange, said Thursday it’s investigating reports of a potential security issue as its founder said the incident “does look like a hack on Binance.” It wasn’t immediately clear the extent of the damage hackers might have been able to accomplish and Binance had not explicitly confirmed...
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