Bitcoin, cryptocurrency prices fall after Binance reports security issue
Stablecoin issuers froze nearly $2.5 billion as Binance said it was investigating a possible exploit and paused withdrawals.
- On Friday, Binance temporarily suspended deposits and withdrawals following a major security breach estimated at $6.3 billion, potentially the largest cryptocurrency heist in history.
- Binance's initial investigation suggests a compromised DevOps engineer's laptop allowed an attacker to gain access to a service container and submit unauthorized withdrawals; the company found no evidence of wallet private key compromise.
- Blockchain partners froze approximately $3 billion in affected assets, with Tether freezing nearly $1.57 billion, Circle more than $800 million, and Ripple roughly $200 million in coordinated response.
- Co-CEO Yi She confirmed Binance will cover "all hacking losses" through its Secure Asset Fund for Users , stating "Safety first: withdrawals are currently disabled until the environment is confirmed to be secure."
- Markets reacted immediately in early Asian trading Friday, with Bitcoin falling roughly 2% and BNB declining more than 8% over 24 hours as analysts warn the breach could prompt investors to reassess centralized exchange safety.
161 Articles
161 Articles
The world's largest cryptocurrency exchange has frozen assets of three billion dollars. The effects of the possible hacker attack were immediately felt in early Asian trade on Friday: Bitcoin and ether fell significantly.
Binance Halts Withdrawals After Suspected Hack as Tether, Circle Freeze $2.38B
Binance has temporarily suspended deposits and withdrawals while investigating a security incident that it estimates had a total impact of around $6.3 billion (£4.70 billion). The cryptocurrency exchange said its preliminary findings suggest a compromised DevOps engineer's laptop may have allowed an attacker to access a service container and submit unauthorised withdrawal transactions. Stablecoin issuers Tether and Circle have frozen more than $…
Binance, the world's largest cryptocurrency exchange, may have been hit by a major hack. According to the company, nearly 6 billion dollars (about 5.36...
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