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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.
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134 Articles
134 Articles
The company indicated that it had suspended trade in certain products.
·Guayaquil, Ecuador
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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.
·Lakewood, United States
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Coverage Details
Total News Sources134
Leaning Left17Leaning Right19Center22Last UpdatedBias Distribution38% Center
Bias Distribution
- 38% of the sources are Center
38% Center
L 29%
C 38%
R 33%
Factuality
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