Binance Founder Says Exchange May Be Victim of Biggest-Ever Crypto Heist
Stablecoin issuers froze more than $2.3 billion as Binance halted withdrawals and investigated whether attackers drained funds from its internet-connected wallets.
- 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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91 Articles
Cryptocurrency exchange Binance says it's investigating reports of a potential security incident
Binance, the world’s largest cryptocurrency exchange, says 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…
(Seoul = Yonhap News) Reporter Lee Seong-han = As rumors spread that Binance, the world's largest cryptocurrency exchange, had been hacked for billions of dollars, the cryptocurrency market plummeted...
Hot wallets have lost $3.3 billion, and if hacked, it could be one of the biggest thefts in history.
Binance hack: Up to $5.8 billion in crypto reportedly stolen as Tether and Circle freeze funds amid investigation - Tech Startups
Binance, the world’s largest cryptocurrency exchange, is investigating a suspected hack that may have exposed more than $5.6 billion in digital assets, potentially the biggest cryptocurrency theft in history. The suspected breach triggered a scramble among blockchain investigators and stablecoin […] The post Binance hack: Up to $5.8 billion in crypto reportedly stolen as Tether and Circle freeze funds amid investigation first appeared on Tech St…
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