{
  "id": 17152591,
  "title": "Binance crypto platform suspends trades amid suspected hack",
  "url": "https://urgent.news/2026/10/30/binance-crypto-platform-suspends-trades-amid-suspected-hack",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T00:55:00.000Z",
  "source": {
    "name": "DW English (Top Stories)",
    "slug": "dw-english-top-stories",
    "url": "https://www.dw.com/en/binance-crypto-platform-suspends-trades-amid-suspected-hack/a-79803280?maca=en-rss-en-top-1022-xml-mrss"
  },
  "original_language": "en",
  "account": "Binance, the world's largest cryptocurrency platform, announced on Thursday that it is investigating a potential security breach. Former CEO Changpeng Zhao, now a major shareholder, confirmed the suspicion of a hack. Approximately $2.5 billion worth of funds were frozen as a precautionary measure. Binance assured users that their funds remain secure. The company has not disclosed whether any cryptocurrency funds were stolen. Binance's security teams are reviewing all relevant information urgently and will provide updates through official channels upon verification.\n\nThe platform, which handles the most daily crypto trading volume globally, suspended trading on certain products during the freeze. Tether froze around $1.6 billion in its USDT currency, while Circle froze $800 million worth of USDC. The news of the potential hack caused Bitcoin's value to drop by 3.2%, falling below $79,000.\n\nChangpeng Zhao, the founder of Binance in 2017, stepped down as CEO after pleading guilty in 2023 for failing to prevent money laundering on his platform. He was pardoned by US President Donald Trump in 2025. Zhao and Binance have supported cryptocurrency ventures backed by Trump and his family.",
  "summary": "The platform suspended some trading while crypto companies froze billions in their respective currencies. The full extent of the possible hack was not yet clear.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 8,
    "also_reported_by": [
      {
        "outlet": "Cointelegraph",
        "title": "Binance files for Brazil crypto license ahead of Friday deadline",
        "url": "https://urgent.news/2026/10/27/binance-files-for-brazil-crypto-license-ahead-of-friday-deadline",
        "published": "2026-10-27T08:04:21.000Z"
      },
      {
        "outlet": "Euromaidan Press",
        "title": "Russian court jails IT company director for 13 years over crypto donations after Binance shared his data, rights group says",
        "url": "https://urgent.news/2026/10/27/russian-court-jails-it-company-director-for-13-years-over-crypto",
        "published": "2026-10-27T15:32:02.000Z"
      },
      {
        "outlet": "TechCrunch",
        "title": "Binance pauses withdrawals as hackers suspected of stealing billions in crypto",
        "url": "https://urgent.news/2026/10/29/binance-pauses-withdrawals-as-hackers-suspected-of-stealing-billions",
        "published": "2026-10-29T22:27:23.000Z"
      },
      {
        "outlet": "Mashable",
        "title": "Binance has reportedly been hacked, billions in crypto stolen",
        "url": "https://urgent.news/2026/10/30/binance-has-reportedly-been-hacked-billions-in-crypto-stolen",
        "published": "2026-10-30T00:19:42.000Z"
      },
      {
        "outlet": "BBC Technology",
        "title": "Crypto giant Binance freezes $2.5bn of assets over suspected hack",
        "url": "https://urgent.news/2026/10/30/crypto-giant-binance-freezes-2-5bn-of-assets-over-suspected-hack",
        "published": "2026-10-30T00:59:04.000Z"
      },
      {
        "outlet": "Toronto Sun",
        "title": "Crypto platform Binance confirms major hack, more than $2.5B in funds frozen",
        "url": "https://urgent.news/2026/10/30/crypto-platform-binance-confirms-major-hack-more-than-2-5b-in-funds",
        "published": "2026-10-30T02:20:10.000Z"
      },
      {
        "outlet": "SCMP Business",
        "title": "Binance pledges to cover losses after US$6 billion crypto hack",
        "url": "https://urgent.news/2026/10/30/binance-pledges-to-cover-losses-after-us-6-billion-crypto-hack",
        "published": "2026-10-30T03:26:14.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}