Binance crypto exchange confirms major hack, more than $2.5 billion frozen
Binance, the world's largest cryptocurrency exchange, has confirmed a major security breach resulting in billions of dollars in potential losses. The company has suspended deposits and withdrawals while working with law enforcement to freeze stolen assets.
Why it matters
This represents one of the largest cyberattacks in the history of the cryptocurrency industry, raising significant concerns about the security of centralized trading platforms.
Cryptocurrency platform Binance said Thursday it had fallen victim to a major hack and indicated that more than $2.5 billion in funds had been frozen in an effort to prevent a massive theft. The company, the world's largest crypto exchange by daily trading volumes, posted a series of sometimes contradictory messages on X, insisting that "user funds are completely safe" but also saying it would "cover all losses." Binance, founder Zhao win dismissal of lawsuit by victims of 64 attacks storyline 1 The scope of the heist was not immediately known, but blockchain analytics company Chainalysis said its "current estimate on amount stolen is approx $5.912B at time of theft."
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14 other newsrooms covered this event. We read each version separately.
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