Cryptocurrency giant Binance said on Thursday that it has frozen digital assets worth more than $2.5bn (£1.87bn) to prevent them from being stolen while it investigates a security issue. The company said as…
Summary
- The company said as part of a series of alerts online that all deposits and withdrawals are temporarily suspended while its teams conduct security checks and that the firm will “cover all losses”.
- “It does look like a hack on Binance,” said Binance’s former boss Changpeng Zhao, who remains a majority shareholder of the firm.
- Zhao added that two other crypto platforms, Tether and Circle, have also frozen around $1.7bn in stolen assets.
- Circle chief executive Jeremy Allaire said the firm is “closely tracking reports of a potential exploit involving Binance” and that his company has frozen more than $800m in assets linked to the incident.
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