Binance flags 'potential security issue,' says approximately $6.3 billion impacted
Binance, the world's largest cryptocurrency exchange, said Thursday it's investigating reports of a potential security issue as its founder said the incident "does look like a hack on Binance." The company said late Thursday the estimated total impact was at more than $6 billion, which could be one of the most significant of such security incidents on record.
Binance, the world's largest cryptocurrency exchange, is investigating a potential security issue that could have impacted over $6.3 billion in user funds, according to the company's latest statement. Binance's founder, Changpeng Zhao, stated on Thursday that the incident appears to be a hack on the platform. The company has confirmed that user funds remain safe, with no evidence of a wallet private key leak found during the investigation.
Binance has worked with blockchain partners to freeze affected assets, freezing roughly $3 billion on-chain so far. The exchange has temporarily suspended all deposits and withdrawals while it conducts security checks and works with law enforcement. Stablecoin providers Tether and Circle have also frozen funds related to the incident.
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