Binance investigates potential multibillion-dollar hack
Binance said it is investigating a potential security breach after suspicious wallet transfers, while co-founder CZ reported nearly $1.8 billion in frozen stablecoins.
Binance is investigating a potential $1.8 billion security breach, according to reports. The exchange's co-founder, Changpeng Zhao, reported that stablecoin issuers Tether and Circle froze nearly $1.8 billion in assets. Zhao, who is no longer with Binance, stated that the activity appeared to be a hack and that the company expects all user funds to be fully covered. The investigation follows suspicious wallet transfers that were first reported by blockchain researcher Spreek.
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