Binance pauses withdrawals as hackers suspected of stealing billions in crypto
Binance has suspended withdrawals following a suspected security breach that may have resulted in the theft of billions of dollars in cryptocurrency. The exchange is currently investigating the incident while assuring users that their funds remain secure.
Why it matters
A breach of this magnitude at the world's largest crypto exchange poses a major threat to market stability and investor confidence.
Binance has confirmed to TechCrunch that it is dealing with a security incident as users reported that funds were being drained from the crypto exchange’s wallets.
The world’s largest cryptocurrency exchange said in an emailed statement to TechCrunch that it is “aware of reports of a potential security issue and are actively investigating.”
“Rest assured that user funds are completely safe,” Binance said in a statement.
“Our security teams are reviewing all relevant information with urgency, and we will provide updates through official Binance channels as soon as we have verified information,” the statement added. “Users should remain cautious of scams and should not trust unofficial links, messages, or requests for account information.”
Binance spokesperson Ross O’Leary said that Binance has “temporarily suspended withdrawals on multiple networks following a security incident as a precautionary measure.”
Headlinne story · 4 newsrooms
Hackers Drain Billions From Binance in Massive Cryptocurrency Security Breach
What every outlet reported, where they differ, and how each framed it →
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3 other newsrooms covered this event. We read each version separately.
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