Politics
Binance hack leads crypto firms to freeze $3 billion in assets
A suspected security breach at Binance caused a freeze of $3 billion by crypto firms as investigations proceed.
Photo: Daniel Case / CC BY-SA 3.0, via Wikimedia Commons
Binance experienced a suspected security issue that led to cryptocurrency firms freezing approximately $3 billion in assets, according to The Hill.
The exchange has temporarily suspended deposits and withdrawals to conduct security checks and freeze funds, the report stated.
Binance is collaborating with law enforcement during the investigation and has promised to cover all losses related to the incident.
This situation has prompted heightened caution within the cryptocurrency sector as the investigation continues.
Sources
- The Hill: Potential Binance 'hack' forces crypto firms to freeze $3 billion
- BBC Business: Crypto giant Binance freezes $2.5bn of assets over suspected hack
- France 24 English: Binance security breach has $6.3 billion impact in potential record crypto heist
- Al Jazeera English: Binance says $2.54bn in crypto funds frozen amid ‘potential security issue’
We read public reporting and official data, confirm what we can, and write our own story. See something wrong? Request a correction.
Comments
No comments yet.
Sign in to comment