Cryptocurrency exchange Binance has launched an investigation into a potential security incident following reports that more than $2 billion in digital assets were transferred from one of its wallets to a new external account. While the initial figure exceeds two billion dollars, blockchain analytics firm Blockaid estimates that nearly $3.3 billion was moved during the event.
In response to the developing situation, Binance stated on X that its teams are aware of reports regarding a potential security issue and are actively investigating the matter. The exchange emphasized that user funds remain safe despite the unauthorized movement of assets from the specific wallet involved.
Binance founder CZ addressed the incident directly, confirming that the activity appears to be a hack targeting the platform. He expressed appreciation for the rapid response from stablecoin issuers Tether and Circle, which froze approximately $971 million and $823 million respectively to prevent further movement of the funds. Although CZ noted that he no longer manages Binance operations, he stated his expectation as a shareholder that all user funds will be fully covered.
Sources: Slashdot.