Binance investigates multibillion-dollar security breach
Binance is investigating a potential multibillion-dollar security breach that is estimated to have impacted $6.3 billion in funds.
Binance is investigating a potential multibillion-dollar security breach that is estimated to have impacted $6.3 billion in funds.
Binance is investigating a potential multibillion-dollar security breach involving one of its Ethereum wallets, after suspicious transfers prompted stablecoin issuers Tether and Circle to reportedly freeze billions in assets.
A Binance spokesperson told Cointelegraph on Thursday that the exchange was investigating reports of a potential security issue but had not confirmed any impact on user funds. The spokesperson said its security teams were reviewing the activity and would provide updates once more information was verified.
Binance co-founder Changpeng Zhao said the activity appeared to be a hack, adding that Tether and Circle had frozen approximately $971 million and $823 million, respectively. Zhao said he expected all user funds to be fully covered.