Bitcoin, cryptocurrency prices fall after Binance reports security issue
Circle, Tether and Ripple froze $2.54 billion in linked funds as Binance said it was investigating reports of a possible security issue.
- On Friday, Bitcoin fell below $78,000 as concerns over a potential security breach at Binance rattled digital asset markets, with the cryptocurrency dropping over 4% to break below the psychologically important $80,000 threshold.
- Binance has not explicitly confirmed a hack, stating teams are actively investigating reports of a potential security issue; CEO Changpeng Zhao sought to reassure investors that customer funds remain secure.
- To contain the suspected breach, several firms froze a combined $2.54 billion on Thursday, with Circle CEO Jeremy Allaire halting more than $800 million in USD Coin and Tether CEO Paolo Ardoino freezing more than $1.5 billion in USDT.
- As Ether dropped 4.84% and Binance's BNB tumbled 7.68% on Friday, Hyperliquid's HYPE token surged 9.7%, defying the broader market sell-off amid ongoing uncertainty.
- Arkham Intelligence identified nearly $6 billion in assets across 55 wallet addresses potentially linked to the incident, renewing concerns over industry vulnerabilities following major breaches including a roughly $1.5 billion Bybit hack and over $350 million in Bitget losses.
32 Articles
32 Articles
Binance freezes $2.54 billion in assets after potential security breach
Binance said it was working with law enforcement agencies, stablecoin issuers and blockchain intelligence firms to trace and freeze assets. Tether, Circle and Ripple also froze funds, while the exchange assured users their money remained safe.
Binance hack: Tether, Circle freeze $2.4 billion in crypto assets; Bitcoin tumbles below $79,000 | Here's what happened
Binance froze $2.54 billion in digital assets and suspended some withdrawals while investigating a suspected hack. Tether and Circle also froze assets linked to the incident
STOCK MARKET: Binance ‘potential security issue’ sees $2.54 billion frozen
Several crypto firms, including Circle Internet Group and Tether, on Thursday froze $2.54 billion of funds tied to a potential hack on cryptocurrency exchange Binance. The world’s largest crypto exchange by daily trading volumes didn’t explicitly confirm that it has suffered an exploit. “Our teams are aware of reports of a potential security issue and are actively investigating,” a Binance spokesperson said. “Rest assured that user funds are com…
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